Question

A shipping company borrows £70 million at 5% compound

interest to build a new cruise ship. If it repays the debt
after three years, how much interest will the company pay?​

Answer 1

10.500.000 libras esterlinas

Explanation:

70000000 x 0,05 = 3.500.000

3.500.000 x 3 = 10.500.000