how much would you have in the bank if a) £8000 by 3 1/2 for 5 years

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$$\mathrm{\ }$$how much would you have in the bank if a) £8000 by 3 1/2 for 5 years

Guest Sep 24, 2014

+129840

+5

Best Answer

I assume the "3 + 1/2" is an interest rate of 3.5% = .035 in decimal form

So we have

£8000(1+ .035)⁵ = about £9501.5

CPhill Sep 24, 2014

CPhill · Answer 1 · 2014-09-24T05:14:50

I assume the "3 + 1/2" is an interest rate of 3.5% = .035 in decimal form

So we have

£8000(1+ .035)⁵ = about £9501.5