Toni invests money into an account which pays a fixed rate of compound interest each year. the total value, £v, of her investment after t years is given by the formula: v = 1350 x 1.04^t answer questions a & b a- how much money did toni invest in pounds b- what rate of compound interest is paid each year

Toni invested in pounds= $1350

rate of compound interest=4%

Step-by-step explanation:

Toni invests money into an account which pays a fixed rate of compound interest each year. The total value, £V, of her investment after t years is given by the formula:  

Given equation is in the form of

where P is the amount invested

'r' is the rate of interest

t is the time taken

P= 1350 is the initial amount invested

1+r= 1.04  (subtract 1 from both sides)

multiply it by 100 to get percentage

r= 4%

a. 19,958,400

step-by-step explanation:

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