Claudia invests £25000 at a rate of 2% per year compound interest.
1 answer:
Answer:
27602.02
Step-by-step explanation:
Principal = £25,000
Rate of interest = 2% per year.
Number of years = 5 years
Formula,
=> £25000 * (1 + 
)^5
=> £25000 * 1.02^5
=> £25000 * 1.1040808
=> £27602.02
Therefore, the amount = £27602.02
Rounded to the nearest penny is £27602.02
Hope it helps :)
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