Ask Question
26 February, 15:02

James invests £700 for 2 years at 10% per year compound interest. How much interest does he earn?

+2
Answers (1)
  1. 26 February, 17:25
    0
    We know that James invested 700 for 2 years at interest rate of 10%. To find how much money he made of the interest, we use this formula:

    Principal (1+rate) ^year

    700 (1+0.1) ^2=

    700 (1.1) ^2=

    700 (1.21) =

    847←The total amount of money he made.

    847-700=147←How much money gained
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “James invests £700 for 2 years at 10% per year compound interest. How much interest does he earn? ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers