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

Question

If £2000 is placed into a bank account that pays 3% compound interest per year,
how much will be in the account after 2 years?
3%OF £2000=£60
60X2=£120
£2000+£120=£2120

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Helga 2 months 2021-07-31T20:38:29+00:00 1 Answers 2 views 0

Answers ( )

    0
    2021-07-31T20:40:28+00:00

    £2000 * (1+3/100)^2
    = £2120.8 after 2 years

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