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a company invests R700000 into a bank account that pays 10% interest, compounding annually.how much will this investment be worth in 2 years

Solution

a company invests R700000 into a bank account that pays 10% interest, compounding annually.how much will this investment be worth in 2 years

Solution

Amount : 847000

Solution steps

Translate the problem into an equation:

A = 700000 (1 + \frac{0.1}{1})^{1 \cdot 2}

700000 (1 + \frac{0.1}{1})^{1 \cdot 2} = 847000

Amount : 847000

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