Question

Louis invested 2050 in a savings account for 5 years
He was paid 1.9% per annum compound interest for each of the five years.
He was then paid r% interest for the fifth year
Louis had 3257 in his savings account at the end of the 5 years
Work out the value of R
Give your answer correct to 1 decimal place​

Answer 1

Answer:

was then paid r% interest for the fifth year

Louis had 3257 in his savings account at the end of the 5 years

Work out the value of R

Give your answer

Step-by-step explanation:

Louis invested 2050 in a savings account for 5 years

He was paid 1.9% per annum compound interest for each of the five years.

He was then paid r% interest for the fifth year

Louis had 3257 in his savings account at the end of the 5 years

Work out the value of R

Give your answer correct to 1 decimal place