catherine19
New member
- Joined
- Jun 16, 2019
- Messages
- 5
KATIE invests £1600 a month. It earns 4% interest in one year.
How much interest does she get?
How much interest does she get?
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But for 1 mark what would be the easiest approach plzYou should have I = Prt. Is this familiar?
Month 1: I = Prt ==> I = 1600*.04*12 months = 1600 * .04 * 1 year
Month 2: I = Prt ==> I = 1600*.04*11 months = 1600 * .04 * (11/12) year
Continue in this way.
You need to CLARIFY that.KATIE invests £1600 a month. It earns 4% interest in one year.
How much interest does she get?