Homework Help: maths

Posted by kelly on Wednesday, April 18, 2007 at 8:04pm.

An investor invests Ł20 000 over three years in a scheme which offers compound interest of 4.5%, compound annually. Which one option gives the amount of money in the scheme after 3 years, rounded to the nearest pound?

A. Ł22 891
B. Ł22 700
C. Ł22 833
D. Ł22 823
E. Ł22 800
F. Ł20 106
G. Ł22 884
H. Ł22 929

use 20 000(1.045)^3

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