Alex invests £4000 for 7 years.
1 answer:
Answer:
Step-by-step explanation:
Use the equation
and fill it in using the info we were given:
Begin by dividing both sides by 4000 to get
and take the 7th root of both sides to "undo" that 7th power on the right. Doing that gives us
1.04 = 1 + r so
.04 = r and the interest rate is 4%
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