Question

Find the final value if £3500 is invested for 6 years at 6.9% p.a.

Final value = £

Answer 1

Principal=P=3500

Time=T=6years

Rate of interest =R=6.9

Interest be I

`\\ \sf\longmapsto I=(PRT)/(100)`

`\\ \sf\longmapsto I=(3500(6)(6.9))/(100)`

`\\ \sf\longmapsto I=(144900)/(100)`

`\\ \sf\longmapsto I=1449`

Now

Final value=3500+1449=4949

Answer 2

= Answer:

Explanation:

interest= 3500 * 6 * 6.9* 1/100

= 4949

Final value = £ 3500 + 1449

= 4949