£1200 is invested at an interest rate of 5.3%,how long before it grows to £2000?

Question

can you give me the answers and formulas also tell me whether its
compound interest

GIVE ME FORMULAS,

do I have to use the compound interest formula

How much will it become in 4.1/2 years

all formulas please

thanks

Answer 1

You have to tell US if it is compound interest to get a correct answer. How often it is compounded is also important.
Assuming annual compounding, multiple the balance at the beginning of the year by 1.053 to get the balance at the end of the year. After 10 years, you have 2049.77 pounds.
If the interest is compounded monthly, multiply the balance by 1.0044 (5.3%/12) to get the balance at the end of the month. After 117 months (9 years 9 months), you have 2000.76 pounds

Answer 2

Ten years will turn it into just over 2000 quid at 5.3%.

Answer 3

Almost nine years nine months compound interest.