Exercise \( 4 T \) 1 The sum of \( € 450 \) is invested at \( 3.2 \% \) interest, compounded annually. a Write down a formula for the value of the investment after \( n \) years. b After how many years will the value first exceed \( £ 600 \) ?
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2 \% \) or \( 0.032 \)) - \( n \) is the number of years So, the formula for the value of the investment after \( n \) years is: \[ V = 450(1 + 0.032)^n \] Show more…
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