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15 April, 08:18

Mary invests 12000 in a saving account.

the account pays 1.5% compound interest per year

work out the value of her investment after 2 years

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  1. 15 April, 08:33
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    In 2 years, you will have $12,362.70

    Step-by-step explanation:

    Use the formula A=P (1+r/n) ^nt.

    A = final amount

    P = initial principal balance

    r = interest rate

    n = number of times interest applied per time period

    t = number of time periods elapsed
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