Cynthia invests some money in a bank which ways 5% compound interest per year. She wants it to be worth over £8000 at the end of 3 years what is the smallest amount, to the nearest pound, she can invest
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Answer:
100% + 5% = 105/ 100 = 1.05
8000×1.05³= £9261
x= 6910.70
the smallest amount to the nearest pounds she can invest is £6910.70
Step-by-step explanation:
Basically i only got 2/3 marks on mathswatch so please add on/ respond when got the full 3 marks. much thanks
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