Question

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?

Answer 1

I guess the answer is 4 years.

Answer 2

Explanation:

should be 4

8500x1.05 8925

8925x1.05 9371.25

9361.25x1.05 9839

9839x1.05 10331