On the 1st of January 2014, Carol invested some money in a bank account.

The account pays 2.5% compound interest per year.
On the 1st of January 2015, Carol withdrew £1000 from the account.
On the 1st of January 2016, she had £23 517.60 in the account.

Work out how much Carol originally invested in the account?

  1. 👍 2
  2. 👎 0
  3. 👁 4,262
  1. [(1.025 x) - 1000] * 1.025 = 23517.6

    1. 👍 1
    2. 👎 17
  2. fff

    1. 👍 0
    2. 👎 5
  3. answer is £23360

    1. 👍 39
    2. 👎 0
  4. skengmanpoundz

    1. 👍 3
    2. 👎 2
  5. It is £23360

    1. 👍 6
    2. 👎 0
  6. how did you get the answer

    1. 👍 6
    2. 👎 0
  7. Anonymous, how da hell u on everything

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    . Lopez has $9118 in her bank account on March 1st. She saves $609 in March. Then she must pay $1011 in taxes in April. Mrs. Lopez is able to save $705 in May. At the end of May, approximately how much greater or less is her

  2. math

    A mother wants to invest $9,000.00 for her son’s future education. She invents a portion of the money in a bank certificate of deposit (Cd account) which earns 4% and the remainder in a saving bond that earns 7%. If the total

  3. Math

    mr. and mrs. garcia have a total of 100000$ to be invested in stocks, bonds, and a money market account. the stocks have a rate of return of 12% per year, while the bonds and the money market account pays 8% per year and 4% per

  4. Math

    JoAnne is depositing money into a bank account. After 3 months there is $150 in the account. After 6 months, there is $300 in the account. Find the constant rate of change of the account.

  1. magh

    suppose you put money into teo different bank accounts. In account #1 you deposit $500 and you will be earning 6% interest compounded quarterly. in account #2 you deposit $600 and you will be earning 5% interest compounded

  2. math

    Money is invested in a savings account at 3.4% simple interest. After 1 year, there is $1695.76 in the account. How much was originally invested?

  3. math

    A total of 8000 dollars is invested in two funds paying 4 percent and 5 percent annual interest,. The combined interest for the year is 350 dollars. How much of the 8000 dollars is invested in each fund? Put the amount of money

  4. Finite Mathematics

    Jessica wants to accumulate $14,000 by the end of 5 yr in a special bank account, which she had opened for this purpose. To achieve this goal, Jessica plans to deposit a fixed sum of money into the account at the end of the month

  1. maths

    How much money will I need to have at retirement so I can withdraw $60,000 a year for 20 years from an account earning 8% compounded annually? a. How much do you need in your account at the beginning b. How much total money will

  2. Algebra 2

    For the first time customers, a bank will open an account with $25 included. This bank also charges a monthly $2.95 service fee on the account. Write an equation that shows the balance B after m months, assuming no other activity

  3. Math - ratio

    Mr. Rahim had the same amount of money in his three bank accounts at first. He deposited $44 into account b and $ 80 into account c. In the end, the ratio of the amount of money in account a to the amount of money in account c was

  4. math

    Eliza Savage received a statement from her bank showing a checking account balance of $324.18 as of January 18. Her own checkbook shows a balance of $487.38 as of January 29. The bank returned all of the cancelled checks but

You can view more similar questions or ask a new question.