Question

sarah invest £9600 at a simple rate of 8% per year work out the value of the investment after 3 years

Answer 1

Answer:

Future Value = £ 11,904

Step-by-step explanation:

Investment = £ 9600

Rate = 8% per year = 0.08

time = 3 years

$fv = 9600 \times (1 + 0.08 \times 3) \\ fv=11904$

Answer 2

Answer:

8% of £9600 = 768

3 × 768 = 2304

9600 + 2304 = 11904