Dan invests £800 into his bank account. He receives 5% per year compound interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate.

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asked Dec 25, 2023 56.2k views

18 votes

Dan invests £800 into his bank account.

He receives 5% per year compound interest.
How much will Dan have after 4 years?
Give your answer to the nearest penny where appropriate.

Mathematics
high-school

Daniel Powell asked

by Daniel Powell

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1 Answer

10 votes

Answer:

£160

Explanation:

Ammount he receives per year times 4.

800 x 0.05 x 4

= £160

Lalit Kushwah answered Dec 29, 2023

by Lalit Kushwah

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