Mathematics, 29.01.2021 02:50 fantasticratz2
Aidan invests 5000β¬ in a special savings account for two years. The rate is 3% for the first year with a higher rate for the second year. Tax at 40% will be deducated each year from the interest earned. A) How much will Aidans investment be worth at the end of the first year after tax is paid? B) Aidan calculates that, after the tax has been deducted his investment will be worth 5196.89 at the end of the second year. Calculate the rate of interest for the second year (IM NOT ABLE TO SEE YOUR ANSWERS BELOW)
Answers: 3
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Aidan invests 5000β¬ in a special savings account for two years. The rate is 3% for the first year wi...
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