Question

PLEASE HELP URGENT!!!!

Dan invests £18790 into his bank account. He receives 4.9% per year simple interest. How much will Dan have after 3 years? Give your answer to the nearest penny where appropriate.

Answer 1

£ 21552.13

Explanation:

P= £18790

r =4.9% =
`(4.9)/(100)=0.049`

t = 3 years

I = Prt

I = 18790 * 0.049 * 3

=£ 2762.13

After 3 years , the amount in Dan's account = 18790 + 2762.13

= £ 21552.13