18brownkei 18brownkei

22-05-2020
Mathematics

contestada

Mary invests £12000 into a savings account. The account pays 1.5% compound interest per year.
Work out the value of her investment after two years.

Respuesta :

stonerandombox99 stonerandombox99

22-05-2020

Answer:

£12,362.70

Step-by-step explanation:

I used the compound interest formula to work this out.

£12,000 (original amount) x 1.015²

1.015 = 1.5% --- squared because the investment was 2 years.

Hope this helps :D

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