[Solved] Joan invests £6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year and 1.7% for each extra year. Work out the value of Joan’s investment at the end of 3 years.
Joan invests £6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year and 1.7% for each extra year. Work out the value of Joan’s investment at the end of 3 years. Concept used The concept used in this question is compound interest, calculated based on…