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    Work out the compound interest on 1200 pounds invested at 1.4 percent per annum per annum

    What i did 1200x(1.014)^3=1251.11

    But in the text book the answer is 51.11 why?
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    (Original post by Atrazine)
    Work out the compound interest on 1200 pounds invested at 1.4 percent per annum per annum

    What i did 1200x(1.014)^3=1251.11

    But in the text book the answer is 51.11 why?
    Its asking for just the money you gain from interest
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    They don't want the total just the interest you gain


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