Mathematics, 11.02.2021 05:00, ramos2019

Louis invested £2950 in a savings account for 5 years. He was paid 1.9% per annum compound interest for each of the first 4 years.
He was then paid R% interest for the fifth year.
Louis had £3257 in his savings account at the end of the 5 years.
Work out the value of R.
Give your answer correct to 1 decimal place.
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Answers: 2

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Louis invested £2950 in a savings account for 5 years. He was paid 1.9% per annum compound interest...