Mathematics, 05.02.2021 19:20 hayden6920

Jenny invests £400 for two years at 5% compound interest, paid yearly. Tim says that the interest Jenny will receive will be £40.
Is Tim right?
Explain your answer.

Answers: 1

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More questions: Mathematics Another questions

Jenny invests £400 for two years at 5% compound interest, paid yearly. Tim says that the interest Jenny will receive will be £40. Is Tim right? Explain your answer.

Answers

Another question on Mathematics

Jenny invests £400 for two years at 5% compound interest, paid yearly. Tim says that the interest Jenny will receive will be £40.
Is Tim right?
Explain your answer.