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Mhairi invest 1000 for 5 years at 4% compound interest p.a calculate how much interest she has gained over the 5 years​

Mhairi invest 1000 for 5 years at 4% compound interest p.a calculate how much interest she has gained over the 5 years​
asked 182k views
5 votes
mhairi invest 1000 for 5 years at 4% compound interest p.a calculate how much interest she has gained over the 5 years​

asked
User Christopher Riches
by
7.4k points

1 Answer

3 votes

Answer:

Explanation:

$1000×1.04⁵ ≅ $1216.65

interest ≅ $216.65

answered
User Hermit
by
8.9k points
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