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3 votes
Brian invests £8300 into his bank account.

He receives 1.4% per year compound interest.
How much will Brian have after 7 years?
Give your answer to the nearest penny where appropriate.
£

User Seiyria
by
7.5k points

1 Answer

5 votes

Answer:

£9,148.37 pounds

Explanation:

you need to get the 1.4% of 8300 and add it to the next year

which will give £8,416.20

you repeat that again but with 8,416.20 to the 3rd year and so on and so forth

User Gonzalo Solera
by
8.5k points
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