If £2000 is placed into a bank account that pays 3% compound interest per year,
how much will be in the account after 2 years?
8

£2,121.80

Step-by-step explanation:

To solve this problem, we can use the compound interest formula:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 3% into a decimal:

3% -> -> 0.03

Now, plug in the values:

Your answer is £2,121.80

answer is 12345678900987654321234567890987654321

step-by-step explanation: