Question

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Rashid invests money into account which pays a fixed rate compound interest each year.
The value ,£V, of his investment after t years is given by the formula
V=1250X1.03t
How much money did Rashid invest?

Answer 1

The formula of the compound interest is V = V₀(1+r%)ⁿ, where V₀ is the initial amount invested, r= interest in%, n = the period or number of years
and V the new amount of his investment:
In your given formula 1250(1.03)^t which is similar to V= 1250(1+3%)^t
We notice that 1250 occupies the place of the initial investment, so Rashid
invested 1250