Answer:
The value of Mary's investment after two years = £12362.7
Step-by-step explanation:
P = Principal / initial amount
R = rate of interest per cent per year
T = number of years
A = final amount at the end of T years
Then:
A = P*(1 + R/100)^2
In our example:
P = £12000
R = 1.5 per cent per year
T = 2 years
Thus:
A = 12000*(1 + 1.5/100)^2
= 12000*(1 + 0.015)^2
= 12000*(1.015)^2
= 12000*(1.030225)
= 12362.7
Value of investment after two years = £12362.7
The result can be shown in both exact and decimal forms.
Exact Form:
2
3
Decimal Form:
0.
¯
6
need help ....................
