Harry invests £6000 in a savings account. The account pays 3.4% compound interest per year. Work out the value of his investment after 3 years give your answer to the nearest penny
Answers
Answered by
3
Answer:
6600
Step-by-step explanation:
S=p(1+I)^n
S=6000(1+3.4/100)^3
S=6000(1.10)
S=6600
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Answered by
3
Answer:
£6633.04
Step-by-step explanation:
the calculation is the original price times by the rate which i believe to be 1.034 to the power of years.
so, it would be £6000 x 1.034 to the power of three.
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