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Popular Word Problems >

Nishi invests £4600 at 6% interest per year. Work out how much she will have altogether after 7 years

Solution

N i s hi in v es t s £4600 a t 6% in t eres t p er ye a r . W or k o u t h o w m u c h s h e w i ll ha v e a lt o g e t h er a f t er 7 ye a rs

Solution

Amount : 6532

Solution steps

Translate the problem into an equation:

A = 4600 (1 + 0.06 \cdot 7)

4600 (1 + 0.06 \cdot 7) = 6532

Amount : 6532

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