Get an answer in 5 minutes

Ask a question to our educators
MATHS

# F £2000 is placed into a bank account that pays 3% compound per year, how much will be in the account after 2 years?

Amount after n years = P{(1+i/100)^n} Where P is the principle amount i is the annual interest rate n is the number of compounding periods in years Thus, Amount after 2 years = 2000{(1+3/100)^2}= £2121.8

·

2.2k students helped

## Similar Maths questions

Maths

Find the 24th term in a rule of 3n+2

## What is Q&A on Scoodle?

At Scoodle we understand that everyone learns in a different way. Some people learn through practice, using essays and notes; others prefer video lessons to watch and learn, some just need help with a specifically hard question, while some learn best 1-on-1 tutoring sessions. At Scoodle we cater for all types of learning styles and needs. From GCSE Maths video lessons to A-level English essays and specialist educators in every subject - we’ve got you covered.

Scoodle has helped over 131,000 students so far

Need help with Secondary Maths?

Getting expert help from a tutor is a great way to improve your Maths grades.

## Discover learning resources by tutors

Learn Maths with Video Lessons
1hr 28m · 8 videos
Paja Kruzikova
·

708 students helped

GCSE Maths - Numbers
28m · 3 videos
Iqbal Lokman
·

1.6k students helped

1hr 32m · 9 videos
Paja Kruzikova
·

708 students helped

GCSE Maths - Ratios
56m · 6 videos
Paja Kruzikova
·

708 students helped

GCSE Maths - Algebra A
1hr 14m · 7 videos
Paja Kruzikova
·

708 students helped

GCSE Maths - Algebra B
1hr 27m · 9 videos
Paja Kruzikova
·

708 students helped

GCSE Maths - Algebra C