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4 years ago

Can anyone help? I will mark you as brainliest!

Mathematics

1 answer:

SVEN [57.7K]4 years ago

8 0

Answer:

see explanation

Step-by-step explanation:

The amount (A) is calculated as

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

P is the principal, r the interest rate

n the number of times per year that compounding happens

t the number of years

Here P = 200000, r = 1.6% = 0.016, n = 1 and t = 4

A = 200000 $(1+\frac{0.016}{1}) ^{4}$

= 200000 $(1.016)^{4}$

= 213110.4899

Thus

Interest obtained = £213110.4899 - £200000 = £13110.4899

Interest ≈ £13110 ( to the nearest £ )

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