Verified answer

4900 * Square of (1.03) = 5198.41

Basically if it is compounded every year.. then this is THE answer..

The formula is F = I (1+rt/100)^n

Where rt = Interest rates

n= number of years

I = initial amount

F= Final amount.. I bet you this is the most correct thing

A = P(1 + rt) = 4900(1 + 0.03 • 2) = 4900(1.06) = 5194

She will have £5194 after 2 yr.

The bank will go under 1 year

Asuming a DIRT rate of 27% then after 2 years she'd have £5116.97.

4900*3%=147

5047*3%=151.41

5198.41

4900*1.06=5194