Brian invests £4000 into his bank account. He receives 7% per year compound interest. How many years will it take for Brian to have more than £8000?

asked Dec 19, 2022 1.5k views

22 votes

Brian invests £4000 into his bank account.

He receives 7% per year compound interest.
How many years will it take for Brian to have more than £8000?

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5 votes

Answer:

14 years

Explanation:

£280 is 7% of 4000 so £4000 euro more would be 4000/280 = 14

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