katiewalkerburrows4 katiewalkerburrows4
  • 12-06-2020
  • Mathematics
contestada

Harry invests £6000 in the savings account. The account pays 3.4% compound interests per year. Work out the value of his investment after 3 years. Give your answer to the nearest penny.

Respuesta :

RVADAMARAJANCHITHRA
RVADAMARAJANCHITHRA RVADAMARAJANCHITHRA
  • 12-06-2020

Answer:

£6633.04

Step-by-step explanation:

The formula for compound interest is p(1+r/100)^t

Substitute p with principal, t with time and r with rate

6000(1+3.4/100)^3

6000(103.4/100)^3

6000 x 103.4/100 x 103.4/100 x 103.4/100

Solve to get £6633.04

Answer Link

Otras preguntas

What was the Trail of Tears? How do you think this affected the Cherokee people, in both the short-term and long-term?
what are some traditional foods served at christmas eve dinner in argentina
Which of the following is an example of an operational risk for a company that manufactures automobiles?A. A state tax increase that makes buying and registerin
Q-9 What is Acceleration due to Gravity? Explain formula of relation between g & G and find the value of g.​
need help will mark brainliest for best answer​
What number of atoms of phosphorus are present in 1.00g of each of the compounds in exercise 40?
What role do currents play in rivers and streams?
Which expression is equivalent to 5(2+7)? 0 2(5+7) O 2 + 7(5) O 5(2)+7 O 5(2)+5(7)​
Why was life as a nun or missionary appealing to people in the Middle Ages? a. Nuns and monks could marry at that time. b. All nuns and monks were able to visit
Gordon Gould has been forced to fight for his claim to the invention of the laser because:_________.a. he was forced out of the company that he and his best fri