Question

Ray invests £9000 in a savings account.

Answer 1

Answer: £9895.60

Step-by-step explanation:

Assuming, interest is compounded annually.

A = p(1+r/n)^nt

A= 9000(1+0.024)^4

A = 9000(1.09951)

A = 9895.60

Answer 2

Answer:

$A=9895.60$

Step-by-step explanation:

$A = P(1 + \frac{r}{n})^{nt}$

$A = 9000(1 + \frac{24}{1000})^{4}$

$A=9895.60$