Question
An investor invests £20 000 over three years in a scheme which offers compound interest of 4.5%, compound annually. Which one option gives the amount of money in the scheme after 3 years, rounded to the nearest pound?
A. £22 891
B. £22 700
C. £22 833
D. £22 823
E. £22 800
F. £20 106
G. £22 884
H. £22 929
use 20 000(1.045)^3
A. £22 891
B. £22 700
C. £22 833
D. £22 823
E. £22 800
F. £20 106
G. £22 884
H. £22 929
use 20 000(1.045)^3