Mathematics, 09.07.2019 19:00 claudr03
Work out the balance for £3000 invested for 3 years at 5% per annum. you
Answers: 2
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &3000\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=years\dotfill &3 \end{cases} \\\\\\ A=3000[1+0.05(3)]\implies A=3000(1.15)\implies A=3450](/tpl/images/0070/4464/fbac8.png)
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Work out the balance for £3000 invested for 3 years at 5% per annum. you...
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