Can somebody help..need to compare results as I think the book's wrong!
Hi! Can somebody solve this for me, it's pretty easy, but the result the book gives me seems wrong (or I'm wrong!). I need a second opinion though...here it is:
A man saves 250£ every half-year and invests it at Compound Interest at 4.5 per cent. What will be the amount of his savings in 8 years if the last amount saved bears interest for 6 months?
Thanks for the help everyone!
P.S. The book gives me 4,860£ pounds but as much as I try I get 4,900..