3 years ago

A bank promises to pay 5.5% pa compound interest on

Mathematics

1 answer:

Ahat [919]3 years ago

7 0

Answer:

£407.20

Step-by-step explanation:

Deposit = £2337
Interest = 5.5% pa compound
Time = 3 years

<u>Savings:</u>

2337*((1 + 5.5/100)^3 - 1) =
2337*((1.055)^3 - 1) =
407.20

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