Please help me with this question and I need explanation/reason clearly. If no explanation given I might have to report.

Here's the question:

Bill invests £500 on 1st January 2004 at a compound interest rate of R% per annum(means per year).

The value, £V, of this investment after n years is given by the formula:

V=500*(1.045)^n

a)Write down the value of R.

Question

06-02-2022
Mathematics

Answered

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Please help me with this question and I need explanation/reason clearly. If no explanation given I might have to report.

Here's the question:

Bill invests £500 on 1st January 2004 at a compound interest rate of R% per annum(means per year).

The value, £V, of this investment after n years is given by the formula:

V=500*(1.045)^n

a)Write down the value of R.

Sagot :

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