If £2000 is placed into a bank account that pays 3% compound interest per year how much will be in the account after two years
1 answer:
You might be interested in
Answer: See below
Step-by-step explanation:
Answer:
27,400 is the current population
7% is the rate of increase
The new size is:
- 38,430 is the population if t is an exponent
- 146,590 is t is NOT an exponent in the formula you typed
Step-by-step explanation:
To find the population in a future year, use the formula:
Substitute the value t=5 to find the population in 5 years.
Or if the equation is supposed to have t as an exponent then look below:
Substitute the value t=5 to find the population in 5 years.
This formula is based off the standard formula so r, the rate is 1.07=1+0.07 so r is 7%.
is the starting population which is 27,400 here.