Question 1205017
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If £100 is invested at compound interest of 8% per annum determine, the value after 10 years.
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<pre>
The value after 1-st year is  {{{100*(1+0.08)}}} = {{{100*1.08}}}.

The value after 2-nd year is  {{{100*1.08^2}}}.

The value after 3-rd year is  {{{100*1.08^3}}}.


. . . and so on . . . 


The value after 10-th year is  {{{100*1.08^10}}} = £215.89   (rounded).    <U>ANSWER</U>
</pre>

Solved.


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To see many other similar &nbsp;(and different) &nbsp;solved problems on compounded interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

in this site.


Learn the subject from there.