Question

Another math question I couldn't figure out.

(I did actually figure out an answer for this one, but it's definitely wrong.)

Each year the value of a bank account increases by 3% because of interest.
If £700 is paid into the account and no money is paid in or taken out, how much will be in the account after 3 years?

Answer 1

I believe the answer is 764.90. 3% of 700 is 21, then add that to 700- have three percent of that- add it to the 721, find 3% of that, then three percent of that then add that to 700 :)