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

You might be interested in

If a home goods retailer pays $35.50 for the vacuum cleaner shown here, answer the following questions. (Round dollars to the ne

Marianna [84]

The Markup percentage is mathematically given as

M=42%

<h3>What is Mark up percentage?</h3>

The markup % may be determined by dividing the gross profit of a unit (the difference between its sales price and the amount it cost to create or buy for resale) by the amount that unit originally cost. If a product sells for $12 but only costs the corporation $8 to produce it, the markup percentage for that product is 50%, which can be calculated as (12 - 8) divided by 8.

Generally, the equation for is Total cost price mathematically given as

TCP= Pay+insurance

Therefore

TCP=35.5*1.6

TCP=284/5

Generally, the equation for is Total selling price mathematically given as

TSP=89.99+7.99

TSP=97.98

In conclusion, Mark up percentage is

$M=\frac{SP-CP}{SP}*100\\\\$