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Home » We know that \( P(200) = 2P_0 \), so: - Silent Sales Machine

We know that \( P(200) = 2P_0 \), so: - Silent Sales Machine

📅 March 10, 2026 👤 scraface

Mar 10, 2026

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📌 #### Solutions: \( x = 1 \) or \( x = 3 \)

📌 A bank offers a compound interest rate of 5% per annum. If $1000 is invested, how much will the investment be worth after 3 years?

📌 The formula for compound interest is:

📌 A = P(1 + r/n)^{nt}

📌 Where \( P = 1000 \), \( r = 0.05 \), \( n = 1 \) (compounded annually), and \( t = 3 \):

📌 A = 1000(1 + 0.05/1)^{1 \times 3} = 1000(1.05)^3

📌 Calculating \( (1.05)^3 \):

📌 #### Amount after 3 years: $1157.63

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