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Amir invests £160 into an savings account. Amir gets 3% per year compound interest. Work out how much Amir will have in the account after 22 years.
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Amir invests £160 into an savings account.

Amir gets 3% per year compound interest.

Work out how much Amir will have in the account after 22 years.

User Sarath Rachuri
by
7.9k points

1 Answer

9 votes
£160 * (1+3%)^22 = £306.58 (correct to 2 decimal places)
User Tiago Cardoso
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8.8k points
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