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.

asked Aug 14, 2022 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.

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7 votes

3000: 10% = 300 and x it by 2 for the 2 years so it’s 600

Korpel answered Aug 15, 2022

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7 votes

£3244.80

£3000 + 4% = £3120

£3120 + 4% = £3244.80

Sriwantha Attanayake answered Aug 20, 2022

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