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iogann1982 [59]

2 years ago

8

Mary invests £12000 in a savings account. The account pays 1. 5% compound interest per year. Work out the value of her investmen

t after 2 years

1 answer:

mestny [16]2 years ago

4 0

Answer:

The value of Mary's investment after two years = £12362.7

Step-by-step explanation:P = Principal / initial amountR = rate of interest per cent per yearT = number of yearsA = final amount at the end of T yearsThen:A = P*(1 + R/100)^2In our example:P = £12000R = 1.5 per cent per yearT = 2 yearsThus:A = 12000*(1 + 1.5/100)^2 = 12000*(1 + 0.015)^2 = 12000*(1.015)^2 = 12000*(1.030225) = 12362.7Value of investment after two years = £12362.7

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Step-by-step explanation:

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${: \implies \quad \sf T_{4}= T_{1}+(4-1)d}$

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${\begin{array}{|c|c|c|c|c|c|}\cline{1-6} \bf n & \sf 1 & 2 & 3 & 4 & 5 \\ \cline{1-6} \bf T_{n} & \sf 8 & 5 & 2 & -1 & -4 \end{array}}$

Note :- Kindly view the answer from web , if you're not able to see the full answer from here ;

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