Register

Paul leaves £4000 in the bank for two years. It earns compound interest of 5% per year. Calculate the total amount Paul's has in the bank at the end of the two year. Pls gi…

Paul leaves £4000 in the bank for two years. It earns compound interest of 5% per year. Calculate the total amount Paul's has in the bank at the end of the two year. Pls gi…
asked 62.1k views
14 votes
Paul leaves £4000 in the bank for two years. It earns compound interest of 5% per year. Calculate the total amount Paul's has in the bank at the end of the two year.

Pls give me working out and explanation !!!!

asked
User SuMi
by
8.1k points

1 Answer

4 votes

Answer:

£4400

Explanation:

5% of 4000 is 200

200*2=400

4000+400=4400

£4400

answered
User Aytekin
by
8.4k 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 =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!