Question

Dan invests £8200 into his bank account. He receives 2% per year compound interest. How much will Dan have after 7 years? Give your answer to the nearest penny where appropriate

Answer 1

9509.32

Step-by-step explanation:

After 1 Year = 8444

After 2 Years = 8612.88

After 3 Years ≈ 8785.14

After 4 Years ≈ 8960.84

After 5 Years ≈ 9140.06

After 6 Years ≈ 9322.86

After 7 Years ≈ 9509.32