Question

Brian invests £6600 into his bank account.

He receives 0.6% per year compound interest.
How much will Brian have after 6 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Explanation:

Use the equation:

Current values X interest to the power of years

So: £6600 X 1.006^6 = £6,219.27

Therefore, the answer is £6,219.27 after 6 years

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