SOLUTION: jenny invests £3500 at 5% interest per year what will she have at the end of 2 years, 5 years,8 years and 9 years?

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Question 515866: jenny invests £3500 at 5% interest per year
what will she have at the end of 2 years, 5 years,8 years and 9 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
simple interest
I=Prt
I=3500*0.05*2
I=350
3500+350=3850
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compounded annually
A=P(1+0.05)^2*1
A=3500*1.05^2
A=3858.75
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you do the others.
I gave you both because you did not say which one.