ljessie0025 ljessie0025

16-02-2019
Mathematics

contestada

Mirek invests £6000 at a compound interest rate of 1.5% per year.
He wants to earn more than £1000 interest.
Work out the least time, in whole years, that this will take.

Respuesta :

sushi2003 sushi2003

16-02-2019

Answer:

11 years

Step-by-step explanation:

100%+1.5= 1.015

6000 *1.01n >7000

6000 X 1.015 to power of 10 equals = 6963

6000 X 1.015 to power of 11 = 7067

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