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Aleks [24]
2 years ago
12

£2000 is invested with an interest rate of 2% per year. How much is the investment worth after 3 years

Mathematics
1 answer:
Stells [14]2 years ago
4 0

Answer:

£2122.42

Step-by-step explanation:

To find the answer, use the compound interest formula:

A = P ( 1 + (r/n) ) ^ (n*t)

A = 2,000 ( 1 + (0.02/1) ) ^ (1*3)

A = 2,000 ( 1 + 0.02 ) ^ 3

A = 2,000 ( 1.02 ) ^ 3

A = 2,000 ( 1.061208 )

A = about 2122.2 pounds

Okay THIS is right. I'm so sorry.

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