Cynthia invests some money in a bank which pays 5% compound interest per year she wants it to be over 8000 at the end of three years what is the smallest amount to the nearest pound she can invest

The smallest amount to the nearest pound she can invest is £6,911

Step-by-step explanation:

Let

x -----> amount of money to be invested  

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

therefore

The smallest amount to the nearest pound she can invest is £6,911

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24+x=y

step-by-step explanation: