Colin invests £4800 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 7 years?
Give your answer to the nearest penny where appropriate.
Answers
Answered by
4
Answer:
CI=1103
Step-by-step explanation:
P=4800
i=3/100=0.03
n=7
CI=P[(1+i)^n-1]
= 4800[(1+0.03)^7-1]
=1103
Answered by
2
the answer is
£5903.39
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