Question

Brian invests £7900 into his bank account.

He receives 2.3% per year compound interest.
How much will Brian have after 5 years?
Give your answer to the nearest penny where appropriate.

Answer 1

haha

Explanation:

i got 5 points

Answer 2

Explanation:

1. use the equation

current amount X interest to the power of years

commpound interest is 2.3%

The starting value is £7900

So: £7900*1.023^5=£8851.26

Therefore, the answer is £8851.26 after 5 years of interest added

Hope this helps!!!

Have a nice day :)