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natita [175]
3 years ago
7

I need help with this problem​

Mathematics
1 answer:
Artyom0805 [142]3 years ago
5 0
Lin and Lin hope this helpssssss
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What is the balance for £5000 invested for 5 years at 7% per annum?
MrRissso [65]
Asumming simple interest rate.

\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& 5000\\
r=rate\to 7\%\to \frac{7}{100}\to &0.07\\
t=years\to &5
\end{cases}
\\\\\\
A=5000[1+(0.07)(5)]\implies A=5000(1.35)
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