Helia invested 4000 AED for 3 years with a compound interest rate of 1.5%, Calculate the worth of her investment at the end of t
his time period. ( Show each step of your calculation)
1 answer:
Answer:
4180 AED
Step-by-step explanation:
Given data
Principal= 4000
Time= 3 years
Rate= 1.5%
The compound interest expression is given as
A= P(1+r)^t
substitute
A=4000(1+0.015)^3
A= 4000(1.015)^3
A= 4000*1.045
A= 4180
Hence the worth will be 4180 AED
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