If the price of rail season tickets increases by 4% every year, work out the price after 3 years of a season ticket that currently costs £3048. You must use the compound interest formula in your workings.

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asked Nov 1, 2021 21.7k views

5 votes

If the price of rail season tickets increases by 4% every year, work out the price after 3

years of a season ticket that currently costs £3048. You must use the compound interest
formula in your workings.

Mathematics
high-school

Benjamin Abt asked

by Benjamin Abt

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1 Answer

5 votes

Answer:

3048 x 1.04 ^3 = 3428.585474

BeeOnRope answered Nov 6, 2021

by BeeOnRope

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