will be made at settlement? If the settlement is on Oct. 20 and first payment is due November 15..This is assuming that a lender charges interest in advance and requires payment on the 15th of each month..I'm finding this a bit confusing..
"Jean invests £6000 for 3 years at 5% compount interest per annum.
Calculate the value of her investment as the end of 3 years."
I worked out an answer but I'm not sure if its correct, and I don't have the mark scheme with me.
Does anyone know the answer to this question?
Thanks.