andresjohnston6802 andresjohnston6802

19-01-2021
Mathematics

contestada

John invests £200,000 in a savings account for 3 years. The account pays compound interest at a rate of 2 % per annum. Calculate the total amount of interest Katy will get at the end of 3 years.

Respuesta :

samuelonum1 samuelonum1

21-01-2021

Answer:

£212,000

Step-by-step explanation:

Step one:

Given data

P=£200,000

rate= 2%

time= 3years

Step two:

compound interest

A=P(1+r)^t

substitute

A=200,000(1+0.02)^3

A=200000(1.02)^3

A==200,000*1.06

A=£212,000

Answer Link

Otras preguntas

Does the equation y=x represent a function?Explain why or why not.

Jason has 20 coins composed of nickels and dimes. If the total value is $1.10 how many coins of each does he have

Which sentence is correct? A. The worker position is that, as employees, they have not been treated fairly. B. The worker's position is that, as employe

A transversion somewhere within gene B in a laboratory plant results in the production of a mutant mRNA that is much longer than the wild type. This transversio

Writing two or more functions with the same name, but with different argument lists, is known as ___________. a. overloading b. creating a template c. orienting

Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,400 monthly. The contract currently sells for $113,000. What is the monthly return

What would barium do to obtain a noble gas structure? gain 2 electrons lose 2 electrons gain 6 electrons lose 6 electrons

The Huffington Post generates revenue by providing ad-supported content such as news, blogs, entertainment, and commentaries. What is the primary web goal of

What is the primary source of high earnings in a market economy? a. a willingness to be selfish and ability to take advantage of others b. the skill and abili

In rabbits, the homozygous genotype LCLC has normal legs, LCLc results in deformed legs, and LcLc results in very short legs. The genotype FBFB produces black f