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24-02-2022
Mathematics

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Sally invests £8000 in a savings account.
The account pays 2.8% compound interest per year

Work out the value of her investment after 4 years. Give your answer to the nearest penny. GUYS PLLS SAVE MEEE

Respuesta :

24-02-2022

The formula for this is:

Initial amount x multiplier^years

So that is £8000 x 1.028^4 = £8934.33938

That is £8934.34

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