Aitelbachirahmed Aitelbachirahmed

14-01-2021
Mathematics

contestada

if £2000 is placed into a bank account that pays 3% compound interest per year how much will be in account after 2 years?

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kevinlc kevinlc

14-01-2021

Answer:

£2121.80

Step-by-step explanation:

Year 1 -> 2000 + (3% of 2000) = 2000 + (60) = 2060

Year 2 -> 2060 + (3% of 2060) = 2060 + (61.80) = 2121.80

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