Question

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

Answer 1

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`