Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Dan invests £8200 into his bank account.
He receives 2% per year compound interest.
How much will Dan have after 7 years?
Give your answer to the nearest penny where appropriate.

Sagot :

Answer:  £ 3675.79

Step-by-step explanation:

A = P(1 + r)^t

A = final amount = x

P = initial principal balance = 3200

r = interest rate = 0.02

t = number of years elapsed = 7

x = 3200(1.02)^7

x = 3200 * 1.14868567

x = 3675.79414

x = 3675.79

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.