Answer:
Step-by-step explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1 + r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = £600
r = 3.2% = 3.2/100 = 0.32
n = 1 because it was compounded once in a year.
t = 6 years
Therefore,.
A = 600(1 + 0.032/1)^1 × 6
A = 600(1.032)^6
A = £724.82
