Maths Q: How to work out compound interest per annum?

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Dawnm1

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"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.
 
You compound the interest for 3 years at 5 per cent per annum.
After 3 years the value is 6000 x (1.05)^3
1.05^3 = 1.1576.
So the value is 6000 x 1.1576 = £6945.60

£300 is added in the first year, a bit over £300 in each of the next two years.
 
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