Question

mary invest 12000 in a saving account. the account pays 1.5% compound interest per year. work out the value of her investment after 2 years

Answer 1

27000

Explanation:

12000 is the beginning amount and you’re investing it by 1.5% every year

The formula is b(m)^x

B is the beginning which would be 12000

M is the rate of change which is 1.5%

X is the amount of time

So the full equation would be 12000(1.5)^2

The final amount would come to 27,000

hope it’s good enough