I am so confused at this question can someone please help me with this!!!! Q) Briony invests some money Interest is paid on the money at a rate of 2% per annum for the first year and 1% per annum for the second year After two years the investment is worth £8653.68 How much did Briony invest?
Since, we don't know the amount of money that was first invested we can name the unknown as x. Then multiply x by 1.01 and 1.02. It should be somewhat in the format like this: x*1.01*1.02=8653.68 After that simply rearrange it to make x the subject by dividing 8653.68 by the product of 1.01 and 1.02. Finally, you will get the answer making sure that x is collected on one side without any other terms like this: ×= answer. X is the investment btw
@@KalHiwatari what about this question ? Q) Simon invested an amount of money in a savings account at 0.5% per annum compound interest. At the end of 3 years, the amount of money in the savings account was £12180.90 Work out how much money Simon invested in the savings account.
@@Hannah-rh9ic same thing, put it as the percentage being times by the money, or x. So its x * 1.005 * 3 = £12180.90, and find x (though Im prob wrong. -.-' )
If I start with $100 in a trading account and I profit 300% each month, and I trade every penny I have each month, principle and interest, how much money will I have at the end of 1 year?
@@evangelin9010 it’s wrong because the question says every other year so instead of counting year 2 you only count 1 and 3 making it just 0.88 instead of 0.88 to the power of 2
@@evangelin9010 it’s wrong because the question says every other year so instead of counting year 2 you only count 1 and 3 making it just 0.88 instead of 0.88 to the power of 2
