Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

Omar invests £6000 for 4 years in a savings account. He will get 1.5 % per year compound interest. Work out the total amount of that will be in Omar accounts by the end of the 4 years. Round your answer to the nearest pound.

The answer is either

6361
6369
6360
Or 6368

Sagot :

lilymclain1

Answer:

£6368

Step-by-step explanation:

You can start by making a formula, which will be:

100/100=1

1.5/100=0.015

1+0.015=1.015 (your multiplyer)

6000*1.015^n= your money after 4 years

(n represents the number of years)

Now you just put in the number of years:

6000*1.015^4=6368.181304

Now round:

Answed= £6368

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.