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3 years ago

10

Peter invests £3000 for 2 years in a saving account. He was paid 3% per annum compound interest. How much did Peter have in his

savings account after 2 years?

1 answer:

madam [21]3 years ago

4 0

Answer:

£3182.7

Step-by-step explanation:

£3000=100%

? =3%

3×3000/100

=£90

£(3000+90)=£3090(1st year)

£3090=100%

? =3%

3×3090/100=£3182.7

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