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Brian invests £1900 into his bank account. He receives 4.5% per year compound interest. How much will Brian have after 7 years?
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24 votes
Brian invests £1900 into his bank account.

He receives 4.5% per year compound interest.
How much will Brian have after 7 years?

User Tommo
by
8.7k points

1 Answer

9 votes

Answer:

£2585.64

Explanation:

FV=PV(1+i)^t

Which means we have

1900(1+.045)^7

1900(1.045)^7

2585.64

User Klkitchens
by
7.9k points
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