Answer:
£6655
Step-by-step explanation:
Given data
Principal= £5000
Rate= 10%
Time = 3 years
FInal Amount A=???
The expression for the compound interest is given as
A=P(1+r)^t
substitute
A=5000(1+0.1)^3
A=5000(1.1)^3
A=5000*1.331
A= £6655
Hence the final Amount is £6655
