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Carine deposits $\mathrm{R} 1000$ into a special bank account which pays a simple interest rate of $7 \%$ p.a. for 3 years. How much will be in her account at the end of the investment term?
in Mathematics by Gold Status (12,707 points) | 22 views

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Best answer
Step 1: Write down known values
P &=1000 \\
i &=0,07 \\
n &=3
Step 2: Write down the formula
A=P(1+i n)
Step 3: Substitute the values
A &=1000(1+0,07 \times 3) \\
Step 4: Write the final answer
At the end of 3 years, Carine will have $\mathrm{R} 1210$ in her bank account.
by Gold Status (12,707 points)

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