Asked by Jean
The formula for a simple interest rate is I = PRT and Total Balance = P + I
The formula for compound interest is B = P × (1 + 〖r/n)〗^nt
Adam invests £55,000 at interest rate of 4% per annum
Answers
Answered by
Damon
and if compounded, compounded yearly or monthly or weekly or daily or continuously ?
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