Colin invests £3500 into his bank account.
2 answers:
Answer: 4,690.33
Step-by-step explanation:
The formula for calculating amount is given by :
A = P
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
A = 3500
A = 3500 (1.340095640625)
A = 4690.3347421875
A = 4,690.33
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