Question

Simon invested £20 000 at a compound interest rate of 2.5% per annum.
At the end of
n
years the investment has a value of £
V
.

Write down a formula for
V
in terms of
n
.

Answer 1

Answer:

Total = Principal × ( 1 + Rate )^years

V = £20,000 × ( 1 .025 ) ^ n

Source: http://www.1728.org/compint.htm

Step-by-step explanation: