Question

Davinder earns 4.5% interest per year on the money she has saved in her bank account. She starts off with £200. How much is in her account after five years?

Answer 1

249.24

Explanation:

Year Interest Total

Interest Balance

0 -- -- £200.00

1 £9.19 £9.19 £209.19

2 £9.61 £18.80 £218.80

3 £10.05 £28.85 £228.85

4 £10.51 £39.36 £239.36

5 £11.00 £50.36 £250.36