Nishi invests £4700 at 6% interest per year. Work out how much she will have altogether after: 2 years- £ 5 years- £ 7 years- £ 10 years- £

Step-by-step explanation:

To calculate the compound interest we want to multiply the amount of money (£4700) by the interest (6%) which would be the percentage multiplier!

To get the new amount we do:

Original amount × (percentage multiplier)ⁿ

The amount of years would be the indices.

For the first year:

£4700x1.06= £4982.

But we want to find out how much she will have altogether in different years.

So for two years:

£4700x1.03²= £5280.90 (rounded)

As you can see the amount of years will be the indices with the interest as our multiplier.

We do this again for 5 years and 10 years:

£4700x1.06⁵= £6289.70 (rounded)

£4700x1.06¹⁰=£8416.20 (rounded)

Hope this helps!

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step-by-step explanation: