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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? Give your answer to the nearest penny where appropriate.
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11 votes
Brian invests £1900 into his bank account.

He receives 4.5% per year compound interest.
How much will Brian have after 7 years?
Give your answer to the nearest penny where appropriate.

User Sadhu
by
8.1k points

1 Answer

11 votes
Explanation

A = C (1 + I)**t
A = 1900( 1+0.045)**7
A= 2585.64£
Answer

2585.64£
User Millie Smith
by
9.0k points
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