Harry invests £6000 into a savings account The account pays 3.4% compound interest per yearWork out the value of his investment after 3 years Give your answer to the nearest penny
Accepted Solution
A:
♫ - - - - - - - - - - - - - - - ~Hello There!~ - - - - - - - - - - - - - - - ♫➷ Find the multiplier:1 + (3.4/100) = 1.034Use this formula:Final = original x multiplier^nn is the number of yearsSubstitute the values in:final = 6000 x 1.034^3 Solve:final = 6633.0438This can be rounded to the final answer of £6633.04✽➶ Hope This Helps You!➶ Good Luck (:➶ Have A Great Day ^-^↬ ʜᴀɴɴᴀʜ ♡