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how much would a person have after 5 years?
if a person had £250,562 and they get an annual interest rate of 4% how much would they have after 5 years?
6 Answers
- Anonymous1 decade agoFavorite Answer
£250,562 * (1.04)^i
Where i represents the number of years. In our case i = 5, which gives:
£250,562 * (1.04)^5
= £304,846.985
- Anonymous1 decade ago
Yeah what Wesley said.
- 1 decade ago
1st year £250.562 x 1.04 = £260.58448
2nd year £260.58448 x 1.04 = £271.0078592 and so on .........
Get the idea?
I'll leave the rest to you!
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