The formula for calculating the amount predicted at t years is expressed as:
A = P(1+r)^t. The predicted value after 2 years is £253.62
<h3>Exponential function</h3>
The formula for calculating the amount predicted at t years is expressed as:
A = P(1+r)^t
where
- P is the principal
- r is the rate
- t is the time
Substitute the given parameters
A = 240(1+0.028)^2
A =240 (1.028)^2
A = £253.62
Hence the predicted value after 2 years is £253.62
Learn more on exponential function here; brainly.com/question/12940982
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