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
3.0k 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
3.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.3m questions

4.2m answers

Other Questions

A study was completed in Florida. In southern Florida, the study involved 3,000 patients; 54% of them experienced flulike symptoms during the same month. The study had a margin of error of 1.8%. What does
Can someone help me plz I have to Turn 27/9 in simplest
The sanchez family goes out for dinner, and the price of the meals is $60. The sales tax on the Meals is 7 percent, and they also want to leave a 15 percent tip. What is the total cost of the meal? Analyze
Simplify: 10 ÷ [(5 + 2) − 5]
WHAT IS 33 TIMES 5 TELL ME THE ANWER
Link Copied!