Question

Find the final value if £3500 is invested for 6 years at 6.9% p.a. Final value = £

Answer 1

                  = Answer:

Step-by-step explanation:

interest= 3500 * 6 * 6.9* 1/100

                  = 4949

Final value = £ 3500 + 1449

                  = 4949

Answer 2

Principal=P=3500

Time=T=6years

Rate of interest =R=6.9

Interest be I

$\\ \sf\longmapsto I=\dfrac{PRT}{100}$

$\\ \sf\longmapsto I=\dfrac{3500(6)(6.9)}{100}$

$\\ \sf\longmapsto I=\dfrac{144900}{100}$

$\\ \sf\longmapsto I=1449$

Now

Final value=3500+1449=4949