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Brian invests £600 into his bank account. He receives 3.2% per year compound interest. How much will Brian have after 6 years? Give your answer to the nearest penny where approp…

Brian invests £600 into his bank account. He receives 3.2% per year compound interest. How much will Brian have after 6 years? Give your answer to the nearest penny where approp…
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5 votes
Brian invests £600 into his bank account.

He receives 3.2% per year compound interest.
How much will Brian have after 6 years?
Give your answer to the nearest penny where appropriate

User Azpiri
by
7.7k points

1 Answer

5 votes

Answer:

It will be £2520

Explanation:

  1. 3.2=

  2. (16)/(5)

  3. (16)/(5) * 100 = 320
  4. 320

  5. 320 * 6 = 1920

  6. 1920 + 600 = 2520
User Qadir
by
9.5k points
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