SOLUTION: calculate the total compound interest on £2800 invested at 6% for 4 years.
Algebra.Com
Question 391085: calculate the total compound interest on £2800 invested at 6% for 4 years.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
The formula for compound interest is:
^{nt})
where 
is the future value, 
is the present value or invested principal, 
is the decimal representation of the annualized interest rate, 
is the number of compounding periods per year, and 
is the number of years.
You did not bother to share the number of compounding periods in one year or give any clue that would allow someone to deduce that number. So, once you figure that out and substitute that value into the following, you can do a little calculator work to get your answer.
^{4n})
John
My calculator said it, I believe it, that settles it
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