Mary incests £12000 in a savings account. The account pays 1.5% compound interest per year

Step-by-step explanation:

The complete question is

Mary invests £12000 in a saving account. The account pays 1.5% compound interest per year. Work out the value of her investment after 2 years.

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

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