Register
Jack invests £3000 for 2 years at 4% per annum compound interest. Work out the value of the investment at the end of 2 years.
199k views
13 votes
Jack invests £3000 for 2 years at 4% per annum compound interest.

Work out the value of the investment at the end of 2 years.

User Manoj Monga
by
7.5k points

2 Answers

7 votes
3000: 10% = 300 and x it by 2 for the 2 years so it’s 600
User Korpel
by
9.2k points
7 votes

Answer:

£3244.80

Explanation:

£3000 + 4% = £3120

£3120 + 4% = £3244.80

User Sriwantha Attanayake
by
8.1k points
← Prev Question Next Question →

Related questions

User Pykler
asked Dec 5, 2022 13.4k views
£3000 is invested at 4% compound interest per annum. What is the value of the investment after 3 years?
Pykler asked Dec 5, 2022
by Pykler
7.8k points
1 answer
7 votes
13.4k views
User Cantfindname
asked Aug 1, 2017 17.5k views
Work out the balance for £3000 invested for 3 years at 5% per annum
Cantfindname asked Aug 1, 2017
by Cantfindname
7.8k points
1 answer
0 votes
17.5k views
User Merly
asked Jun 18, 2017 58.7k views
Work out the balance for £3000 invested for 3 years at 5% per annum
Merly asked Jun 18, 2017
by Merly
7.6k points
1 answer
0 votes
58.7k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!