Posted by kenji86 on Friday, April 23, 2010 at 2:49pm.
Total after 5 years will be
total= 5000(1+0.034)^5 =5909.80
Hence interest paid will be 909.80 Pounds
You might want to memorise the formula as
A = P(1+r)^t where P is principal , r is rate in decimal and t is time.
Hope this helps
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