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5 of 9 Dan invests £2700 into his bank account. He receives 2% per year compound interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate. £
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5 of 9

Dan invests £2700 into his bank account.
He receives 2% per year compound interest.
How much will Dan have after 4 years?
Give your answer to the nearest penny where appropriate.
£

User Jamzsabb
by
8.0k points

1 Answer

7 votes

Answer:

$2,922.57

Explanation:


A = P(1 + r/n)^(nt)


A = 2700(1 + .02/1)^(1(4))

User Dammi
by
8.3k points
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