Question

Dan invests £7600 into his bank account.

He receives 3% per year compound interest.
How much will Dan have after 4 years?
Give your answer to the nearest penny where appropriate.​

Answer 1

Answer: 8512

Step-by-step explanation: if he makes 3% a year more for 4 years we have to add 3%+3%+3%+3%=12% and add it to 7600 so 7600+12%=8512