Register

Sally invests £8000 in a savings account. The account pays 2.8% compound interest per year. Work out the value of her investment after 4 years. Give your answer to the nearest p…

Sally invests £8000 in a savings account. The account pays 2.8% compound interest per year. Work out the value of her investment after 4 years. Give your answer to the nearest p…
asked 91.6k views
0 votes
Sally invests £8000 in a savings account.

The account pays 2.8% compound interest per year.
Work out the value of her investment after 4 years.
Give your answer to the nearest penny.

asked
User Saurabh Parmar
by
8.0k points

1 Answer

2 votes

Answer:

£8934.24

Explanation:

100 + 2.8 = 102.8

102.8 / 100 = 1.028

8000 x
1.028^(4) = £8934.24

answered
User Fixxxer
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!