Question

Heather invests £900 for 3 years at 2% per annum compound interest. Calculate the value of her investment at the end of 3 years.

Give your answer to the nearest penny

Answer 1

900(1+0.02)^3=955.09

Answer 2

I = PRT

I = 900 x 2% x 3

I = 900 x .02 x 3

I = 18 x 3

I = 54

So, total it would be £954. (all I copy and pasted was the £)