Gino invested €20,000 in an account for 4 years at p.a
MATHEMATICS · Multi-part · GCSE · Mathematics · Ratio and Proportion · Ratio and Proportion
Problem
Gino invested €20,000 in an account for 4 years at 4.2% p.a. interest compounded monthly. Inflation over the period averaged 3.4% per year.
(1) Find the value of Gino's investment after 4 years.
(2) Find the real value of the investment.