Asked by rahel
alison invests £400 in an account paying compound interest 4% per annum.find the interest earned over 5 years,round your answer to 3 significant figures.
Answers
Answered by
Reiny
amount after 5 years
= 400(1.04)^5
= 486.66
so interest = 486.66-400= 86.66
= 400(1.04)^5
= 486.66
so interest = 486.66-400= 86.66
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