Answer: total amount of interest = £13110.49
Step-by-step explanation:
given that the
Principal P = £200,000
Time t = 4 years.
Rate R = 1.6%
Amount = P( 1 + R% )^t
Amount = 200000( 1 + 1.6%)^4
Amount = 200000 (1.016)^4
Amount = 200000 × 1.06555245
Amount = £213110.49
The total amount of interest = amount - principal
Total amount of interest = 213110.49 - 200000
The total amount of interest = £13110.49
Therefore, Claire will get a total amount of interest of £13110.49 at the end of four years
