Sally invests £8000 in a savings account. the account pays 2.8% compound interest per year. what is the value of her investment after 4 years?

Answer with Step-by-step explanation:

The total amount is calculated by:

where P is the amount invested

r is the rate of interest

and n is the time.

Here, P=£8000

r=0.028

and n=4

Value of investment after 4 years=

=£8934.34

Hence, Value of investment is:

£8934.34

x -

median = 1.25

range = 12-14.5

interquartile = q12-q14.5

y -

median = 1

range = 15-17

interquartile = q15-q17

example 2 – simplify: step 1: completely factor both the numerators and denominators of all fractions. step 2: change the division sign to a multiplication sign and flip (or reciprocate) the fraction after the division sign; essential you need to multiply by the reciprocal. step 3 : cancel or reduce the fractions.