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Mary invests £120000 in a savings account.the account pays 1.5% compound interest per year work out the value of her investment after 2 years

Mary invests £120000 in a savings account.the account pays 1.5% compound interest per year work out the value of her investment after 2 years
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3 votes
Mary invests £120000 in a savings account.the account pays 1.5% compound interest per year work out the value of her investment after 2 years

asked
User Webbi
by
8.1k points

1 Answer

3 votes

Answer:

120,027£

Explanation:

A=P(1+r/100)^n

120,000(1+1.5/100)^2

=120,027£

hope it helps

answered
User Kylaaa
by
8.7k points
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