£4000 is invested at 1.5% compound interest.
Show that the value of the investment after 2 years is £4120.90.
Thanks to anyone who can help.
6 answers
4000*1.015^2 = 4120.90
I have literally just had to do the same ques no...thanks Steve!
£4000 is invested at 1.5 compound intetest.
Show that the value of the investment after 2 years is £4120.90
Show that the value of the investment after 2 years is £4120.90
Suck me
Interesting theory Steve, but is that really the answer? I have a feeling instead of 4000*1.015^2 = 4120.90, it will be 4000 /1.015^2=3882.64699, then you times this by 2, and then divide by 1.8821, to get the answer of
4125.86684023.
4125.86684023.
@steve, how?? also what does ^ mean?? explainnnn
3 answers