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Zaynab decides to put £3000 in a bank account which pays 5% compound interest per year. She wants to know what would be the balance of this account after 8 years.​
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17 votes
Zaynab decides to put £3000 in a bank account which pays 5% compound interest per year.

She wants to know what would be the balance of this account after 8 years.​

User Ecm
by
7.6k points

2 Answers

7 votes
balance would be 1,800
User Maxbester
by
8.5k points
11 votes
Interest rates during the 8 years will be = 1200£

3000-1200=1800 left
User Misterte
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8.5k points
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