1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Yuliya22 [10]
3 years ago
6

Liam invests £8000 in a savings account for 4 years. The savings account pays compound interest at a rate of: 4.5 % for the firs

t year, 2.75 % for all subsequent years.
Work out the value of Liam’s investment at the end of 4 years.

Please help i don't understand

Mathematics
2 answers:
madam [21]3 years ago
3 0

Answer:

The value of Liam's investment at the end of 4 years is £9069.764

Step-by-step explanation:

Compound interest is interest calculated on the initial principal, which also includes all of the accumulated interest of previous periods of an investment.

We multiply the principal amount by one plus the annual interest rate to the power of the number of compound periods to get a combined figure for principal and compound interest.

4.5% in the first year;

4.5/100 = 0.045

(1 + 0.045) × 8000 =

1.045 × 8000 = £8360.

2.75% for all subsequent year;

2.75/100 = 0.0275

1 + 0.0275=1.0275

Number of years is;

4-1=3years

Therefore,

8360 × (1.0275)^3 =

8360 × 1.0849 = £9069.764

ElenaW [278]3 years ago
3 0

Answer:

£9068.84

Step-by-step explanation:

The image attached will provide the necessary explanations

You might be interested in
1(3/11-7d/17) using distributive property
nadezda [96]
D=51/77
First set up the equation equal to zero(0), the distribute from there.
6 0
3 years ago
Translate the following words to algebra symbols, using "n" as the variable. The product of six and a number is 24.
sveta [45]
So n will be the unknown, and the expression is:
6n = 24
from where we can find the number n:
n = 24/6
n = 4
7 0
3 years ago
Please do the 3 questions show work if needed
pishuonlain [190]

Answer:

100-11=89

Step-by-step explanation:

6 0
3 years ago
Please help me on this I’m super stuck
erastova [34]

Answer:

<u>BC = 3.1666</u>

Step-by-step explanation:

To solve this you need to know that cosine∅ = adjacent/hypotenuse. We already know that hypotenuse = 5 and that ∅ = 70*. By substituting these in you will get cosine 70* = adjacent/5. Evaluate cosine 70* on the calculator and get 0.633... Multiply both sides by 5 and get adjacent is about equal to 3.1666. Because BC is the adjacent side of the triangle, this is the length of BC.

6 0
3 years ago
10 more than twice gorans age
Rasek [7]

Answer:

2x+10

Step-by-step explanation:

x is gorans age

6 0
3 years ago
Other questions:
  • 3.
    14·1 answer
  • Solve each system of equations by graphing y=-1/2x+5 and y=3x-2
    12·1 answer
  • On a street, each house has an address between 1000 and 1099, inclusive. at least how many houses are there if at least two of t
    14·1 answer
  • The picture shows how adding heat or taking heat away causes matter to change state.
    15·1 answer
  • When two lines are cut by a transversal, if the alternate interior angles are equal in measure, then the lines are parallel.
    11·2 answers
  • A 24- gallon fish tank is completely filled. Water is then continually added to the tank at a rate of 2 3/8 gallons per hour, an
    7·1 answer
  • PLSSSSS HELPPPPPP!!!!!!
    14·1 answer
  • What does Smoking Cause And Is Vaping Bad for you Lungs? Please help due in 7 min
    11·2 answers
  • Help please! 50 points
    9·1 answer
  • Badria, Khalid, and Yousif have a total of 95 in their wallets. Yousif has 5 less than Badria. Khalid has 3 times what Yousif ha
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!