Simon invested £20 000 at a compound interest rate of 2.5% per annum. At the end of n years the investment has a value of £V. Work out the value of V when n=2

A = $ 21,024.33

A = P + I where

P (principal) = $ 20,000.00

I (interest) = $ 1,024.33

Step-by-step explanation:

First, convert R percent to r a decimal

r = R/100

r = 2.5%/100

r = 0.025 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 20,000.00(1 + 0.002083333/12)(12)(2)

A = $ 21,024.33

principal plus interest,

from compound interest on an original principal of

$ 20,000.00 at a rate of 2.5% per year

compounded 12 times per year

over 2 years is $ 21,024.33.

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step-by-step explanation:

the x's and the y's both go up the same amount each time, therefore it will be a linear function because it will go in a straight line when drawn on a graph.

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addition

step-by-step explanation: