Answer:
[tex]\£3840.2[/tex]
Step-by-step explanation:
Let P denotes principal amount, T denotes time period and R denotes rate of interest.
Amount = [tex]P(1+\frac{R}{100})^T[/tex]
Amir pits £3035 into a bank account. The account pays 4% compound interest each year.
Put [tex]P=\£3035,\,R=4\%,\,T=6[/tex]
Amount = [tex]3035(1+\frac{4}{100})^6=3035(\frac{104}{100})^6=\£3840.2[/tex]
Therefore, Amir will have [tex]\£3840.2[/tex] in the account after 6 years.
