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Mary invests £12000 in a savings account. The account pays 1.5% compound intrest per year. Work out the value of her investment after 2 years?

Mary invests £12000 in a savings account. The account pays 1.5% compound intrest per year. Work out the value of her investment after 2 years?
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4 votes
Mary invests £12000 in a savings account.

The account pays 1.5% compound intrest per year.

Work out the value of her investment after 2 years?

asked
User Rgov
by
8.2k points

1 Answer

4 votes

Answer:

Mary's investment after 2 years would be: 12000 x (1 + 1.5/100)^2 = 12362.7£

answered
User Huon
by
8.6k points
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