Answer:
the amount after 2 years is £2,121.80
Step-by-step explanation:
The computation of the amount after 2 years is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
= £2,000 × (1 + 0.03)^2
= £2,000 × 1.03^2
= £2,000 × 1.0609
= £2,121.80
Hence, the amount after 2 years is £2,121.80
