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Brian invests £8500 into his bank account. He receives 5% per year compound interest. How many years will it take for Brian to have more than £10000?
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1 vote
Brian invests £8500 into his bank account.

He receives 5% per year compound interest.
How many years will it take for Brian to have more than £10000?

User Shreemaan Abhishek
by
7.2k points

2 Answers

3 votes

Answer:

I guess the answer is 4 years.

User Ilinykhma
by
7.0k points
9 votes

Explanation:

should be 4

8500x1.05 8925

8925x1.05 9371.25

9361.25x1.05 9839

9839x1.05 10331

User Superjer
by
6.6k points
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