3 (b) Rana wants to pay £6000 for the wedding. She paid £5000 into a savings account 6 years ago. The compound interest rate is 3% per year. Does Rana have enough money in the savings account to pay for the wedding? Show how you decide.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...
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Solve 3(b) In 10 min plz
3 (b) Rana wants to pay £6000 for the wedding.
She paid £5000 into a savings account 6 years ago.
The compound interest rate is 3% per year.
Does Rana have enough money in the savings account to pay for the wedding?
Show how you decide.
Transcribed Image Text:3 (b) Rana wants to pay £6000 for the wedding. She paid £5000 into a savings account 6 years ago. The compound interest rate is 3% per year. Does Rana have enough money in the savings account to pay for the wedding? Show how you decide.
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