Y0ItsKevin Y0ItsKevin
  • 17-09-2022
  • Mathematics
contestada

Laura invests £1290 in a bank account.
The account gathers compound interest at a rate of
0.5% per month.
How much money will be in the account after 8 months?
Give your answer in pounds to the nearest 1p.

Respuesta :

NamoMath NamoMath
  • 17-09-2022

Answer: £1342.5

Step-by-step explanation:

y = a(1 + R)^n

y = 1290(1 + 0.005)^8

y ≈ 1342.51

∴ £1342.5

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