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mamaluj [8]
3 years ago
11

Colin invests £3500 into his bank account.

Mathematics
2 answers:
Vikki [24]3 years ago
5 0

Answer: £4733.05

Step-by-step explanation:

kow [346]3 years ago
5 0

Answer: 4,690.33

Step-by-step explanation:

The formula for calculating amount is given by :

A = P (1+r)^{n}

Where :

A = amount = ?

P = Principal = 3500

r = rate = 0.05

n = number of years  = 6

substituting the given values into the formula , we have

A = 3500(1+0.05)^{6}

A = 3500 (1.05)^{6}

A = 3500 (1.340095640625)

A = 4690.3347421875

A = 4,690.33

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