The amount of money in Joe’s savings account is increased by 8% each year. Given that he has £500 in 2016. Work out how much Joe will have in 2021.

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asked Jun 21, 2021 112k views

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The amount of money in Joe’s savings account is increased by 8% each year. Given that he has £500 in 2016. Work out how much Joe will have in 2021.

Mathematics
high-school

Willy Wijaya asked

by Willy Wijaya

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2 Answers

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Answer:

700 in 2021

Explanation:

X = 500 x .08 x 5

X = 200

Amount = 500 + 200 = 700

Diazdeteran answered Jun 22, 2021

by Diazdeteran

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Answer: £700

Explanation:

SI = prt

SI = 500 x .08 x 5

SI = 200

Amount = 500 + 200 = 700

Cppit answered Jun 26, 2021

by Cppit

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