Toby invested £4500 for 2 years in a saving accounts . he was paid 4% per annum compound interest . How much did Toby have in his saving account after 2 years ?

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asked May 5, 2021 123k views

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Toby invested £4500 for 2 years in a saving accounts . he was paid 4% per annum compound interest .

How much did Toby have in his saving account after 2 years ?

Mathematics
high-school

Gfullam asked

by Gfullam

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Answer:

Explanation:

(1 + interest rate)t

(1 + 0.04)² = (1.04)²

= 1.0816

Alexander Pankin answered May 10, 2021

by Alexander Pankin

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