Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. 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

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.