Compound Interest: invested RM2500 into an account that pays 7% interest
by Sylvia Andrew
Mr Amir invested RM2500 into an account that pays 7% interest compounded quarterly. He intended to keep the account untouched for five years, However, after three years he had to withdraw RM1000. Find the amount in his account after five years for the time he made his investment.
I'am confused if this question is refers to compound interest of simple interesn.