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3 years ago

Jane invested £4000 for 3 years with an interest rate of 1.5%. What was her investment worth at the end of this period?

Mathematics

2 answers:

Gwar [14]3 years ago

8 0

Answer:

$4184

Step-by-step explanation:

$a = p{(1 + \frac{r}{100} )}^{n}$

a = amount

p = principal

r = rate interest

n = number of years

a = 4000[1+(1.5/100)]³

= 4000(1.046)

= $4184

(Correct me if i am wrong)

ddd [48]3 years ago

6 0

Answer:

$4182.7

Step-by-step explanation:= 4000*(1.5%)*3

Year 1= 4000*(100%+1.5%)= 4060

Year 2= 4060*(100%+1.5%)= 4120.9

Year 3= 4120.9*(100%+1.5%)= 4182.7

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