natnerd2837 natnerd2837

12-02-2021
Mathematics

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Mary invests £1200 in a savings account. The account pays 1.5% compound interest per year. Work out the value of her investment after 2 years.

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sharda40 sharda40

12-02-2021

Answer:

CI=P[(1+r/100)^n-1]

=1200[(1+1.5/100)^2-1]

=1200*0.030225

=36.27

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