LJG07
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1. £1000 is invested for 2 years at 5% per annum with compound interest. Work out the total amount in the account after 2 years.

Respuesta :

victoriasolyanyk
1000x1.05^2 =£1102.5
altavistard

Answer:

A = £1102.50

Step-by-step explanation:

Use the compound amount formula:

A = P(1 + r)^t, where P is the principal, r is the interest rate as a decimal fraction, and t is the number of years.

Here A = £1000·(1 + 0.05)^2, which evaluates to  A = £1102.50

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