Answer:
Value of her investment after 2years is £12,362.7
Step-by-step explanation:
The question is incomplete, here is the complete question.
"Mary invests £12000 in a savings account. The account pays 1.5% compound interest per year. Work out the value of her investment after two years"
Using the relationship:
A = P(1+r/100)^n
Where P is the principal = amount invested = £12000
r is the compound interest = 1.5%
n is the time = 2years
A is the amount compounded after n years
A = 12000(1+1.5/100)²
A = 12000(1+0.015)²
A = 12000(1.015)²
A = 12000(1.03)
A = 12362.7
Value of her investment after 2years is £12,362.7
