SOLUTION: If £100 is invested at compound interest of 8% per annum determine, the value after 10 years.

Question 1205017: If £100 is invested at compound interest of 8% per annum determine, the value after 10 years.
Answer by ikleyn(52793) (Show Source): You can put this solution on YOUR website!
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If £100 is invested at compound interest of 8% per annum determine, the value after 10 years.
~~~~~~~~~~~~~~~~~~~

The value after 1-st year is   = .

The value after 2-nd year is  .

The value after 3-rd year is  .


. . . and so on . . . 


The value after 10-th year is   = £215.89   (rounded).    ANSWER

Solved.

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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.

Learn the subject from there.

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