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
2
Step-by-step explanation:
£4800×103/100×103/100×103/100×103/100×103/100×103/100×103/100
= 5903
Answered by
0
Answer: 3903.39
Step-by-step explanation: 4800× 1.03 × 1.03 × 1.03 × 1.03 × 1.03 × 1.03 × 1.03=3903.39
you times 1.03 because the 3% is 1.03
and it's seven times because it's seven years
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