4 The value, \(\pounds V\), of an initial investment, \(\pounds P\), at the end of \(n\) years is given by the formula $$V = P \left( 1 + \frac { r } { 100 } \right) ^ { n }$$ where \(r \%\) per year is the fixed interest rate.
Mr Brown invests \(\pounds 1000\) in Barcelona Bank at a fixed interest rate of \(3 \%\) per year.

1. 1. Find the value of Mr Brown's investment at the end of 5 years. Give your value to the nearest \(\pounds 10\).
   2. The value of Mr Brown's investment will first exceed \(\pounds 2000\) after \(N\) complete years. Find the value of \(N\).
2. Mrs White invests \(\pounds 1500\) in Bilbao Bank at a fixed interest rate of \(1.5 \%\) per year. Mr Brown and Mrs White invest their money at the same time. The value of Mr Brown's investment will first exceed the value of Mrs White's investment after \(T\) complete years. Find the value of \(T\).