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NeX [460]
3 years ago
9

Cynthia invests some money in a bank which pays

Mathematics
1 answer:
gizmo_the_mogwai [7]3 years ago
8 0
Answer = £6911

Compound interest of 5% means multiplying by 1.05 each year.

Let’s call the missing value x

To find x, we need to do:

(X) * 1.05 * 1.05 * 1.05 = 8000

So, to find x, divide 8000 by 1.05^3
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