Jim initially deposits £6000 in an account which earns p.a

MATHEMATICS · Subjective · ICSE · Mathematics · Commercial Mathematics · Commercial Mathematics

Problem

Jim initially deposits £6000 in an account which earns 5%5\% p.a. interest paid annually. At the end of each year, Jim invests another £1000 in the account. Find the value of the account after 88 years.

Related theory

Browse the problem library