Mr Wilkinson invests £3000 at a compound interest rate of 2.2% per annum.
He wants his investment to earn more than £800 interest.
Work out the least time, in years, that it will take.
- Please, if you can, could you try and make this as understandable as possible. Thanks.
Answers
Answer:
first point
take it as a man invest £3000 Earth compound.
second point
the sellers give an interest of 2.2 % per annum.
third point
he invested because he want to earn more money money in that. (he at least wanted to earn a profit of of £800)
fourth point
I think this means that he growth some crops like rice, ragi,etc.
fifth point
as you know a crops may take one year to grow and get money in one year or more than one year so like that only one year came in the question.
last point (question)
how much he will take it means at what rate it can take.
if your satisfied with my answer please follow me and mark this answer as brainliest
Answer:
11 years
Step-by-step explanation:
trial and error
put this in ur carculator
3000x1.022^?
?use the question mark and trial until you get above 3800