Question

The amount of money that Tom had in his pension fund

in 2016 was £55 000.
His plans involve him putting £8 200 in his fund every year
for the next 15 years.
How much will Tom have in the pension fund in 2031?​

Answer 1

Answer: £178000

Step-by-step explanation:

The amount that Tom will have in the pension fund in 2031 will be calculated as:

= £55000 + £8200(15)

= £55000 + £123000

= £178000

The amount that Tom will have in the pension fund in 2031 will be £178000