Suzy invests ￡2300 in an account which has an interest rate of 3.4% p.a.
A) find the balance on this account after 3 years
If it is simple interest, then
Interest = principal x rate x time
Interest = 2300 x 3.4% x 3 = 234.60
And the balance would be
2300 + 234.60 = 2,534.60
The question says ...
Suzy invests ￡2300 in an account which has an interest rate of 3.4% p.a.
A) find the balance on this account after 3 years
