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Carol puts £5000 in a savings account for 2 years.
The first year she earned % interest.
The second year she earned 3.1% interest.
a. Wite a calculation to find the amount of money Carol had at the end of the first year.
b. Multiply your calculation from part a by 1.031 to find the amount in the account after 2 years.
( 2.5% = 100+2.5 = 102.5)
( 3.1%= 100+3.1=103.1)
a.) End of first year = 5000 x 1.025 = £5,125.
b) After 2 years = 5,125 x 1.031 = £ 5283.875 = £5283.88.
Note: Here to calculate percentage, a percentage multiplier method is used. You can just simply find 2.5% in your normal method.
