Answer:
£14708.75
Explanation:
Always start with the original amount, in this case 14000.
Then, because it's an increase, add 2.5 to 100. You could also think of it as adding 2.5% to 100%, which is 102.5%. We then divide that by 100.
So far our calculation is 14000 x 1.025.
We now need to do this for the two days on. We can do this in 2 ways.
1. 14000 x 1.025 x 1.025
or.
2. 14000 x 1.025^2
They're both the same thing.
We then type that calculation into your calculator and you should get £14708.75
Hope that helped :)