Register
Colin invests £4600 into his bank account. He receives 4% per year compound interest. How much will Colin have after 7 years? Give your answer to the nearest penny where appropriate. please show your working
192k views
1 vote
Colin invests £4600 into his bank account.

He receives 4% per year compound interest.
How much will Colin have after 7 years?
Give your answer to the nearest penny where appropriate.


please show your working

User Stu Stein
by
7.4k points

1 Answer

5 votes

Answer:

answer is £6053.29

Explanation:

C.i - p(1+r/100)n-P

A=p+I

Colin invests £4600 into his bank account. He receives 4% per year compound interest-example-1
Colin invests £4600 into his bank account. He receives 4% per year compound interest-example-2
User Clement Prem
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!