Answer:o calculate the compound interest, we can use the formula:
A = P(1 + r/n)^(nt)
where:
A = the final amount
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time period (in years)
In this case, P = £8500, r = 5.7% = 0.057, n = 1 (since the interest is compounded annually), and t = 6.
So, plugging in the values:
A = £8500(1 + 0.057/1)^(1*6)
A = £8500(1.057)^6
A = £11260.23
Therefore, Brian will have £11260.23 in his bank account after 6 years with compound interest. Rounded to the nearest penny, the answer is £11,260.23.
Explanation: