gracenewman80 gracenewman80
  • 04-01-2021
  • Mathematics
contestada


Brian invests £4700 into his bank account.
He receives 5.5% per year compound interest.
How much will Brian have after 3 years?

Respuesta :

qasimrashid2016
qasimrashid2016 qasimrashid2016
  • 04-01-2021

Answer:

5,548.9861375

Step-by-step explanation:

First year

4700/100×5.5=258.5

So his account will be 4700+285.5=4985.5

Second year

4985.5/100×5.5=274.2025

His account will be 4985.5+274.2025=5,259.7025

Third year

5,259.7025/100×5.5=289.2836375

The total in his account after three years equal to

289.2836375+5259.7025=5,548.9861375

Answer Link

Otras preguntas

Greeks used pots to store
langston Took his family to a nice restaurant where he spent $143 on the meal before taxes. What is the total price after 8% tax, 20% tip and an additional $20
hey guys need some advice please help????
Write the equation of the line that passes. Throught the point (-2,1)and (0,8)put your aswer in fully reduce point slope form unless it is a vertical or horizon
Where do we get biomass energy from
2. What kinds of elements do molecular formulas contain?
Jim owns stock in Gamma Vision Inc. That company announces that it will split its stock with three new shares per two old shares. Jim currently owns 400 shares
Find The circumference of both circles to the nearest hundredth.
These figures are.... (Graph up top) (A.) Congruent but not similar. (B.) Congruent and similar. (C.) Similar but not congruent. (D.) Neither similar nor congru
-3< or equal to 6-q/9 < or equal to 3