£400 for 3 years at 7% years per annum

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asked Nov 7, 2020 41.6k views

1 Answer

Jahrel · Answer 1 · 2020-11-13T18:57:58+0000

The easiest way to do this is the following: if the amount increases with 7% each year, it means that you have to multiply the £400 by 1,07. Then you multiply that answer by 1,07 and one time again. The final answer is 490,0172

£400 for 3 years at 7% years per annum

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