38.6k views
4 votes
Dan invests £11125 into his bank account. He receives 3.3% per year simple interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate.

User Alex Povar
by
6.6k points

1 Answer

2 votes

Answer:

£11564.54

Explanation:

100 + 3.3 = 103.3%

103.3% = 1..013

£11125 x 1.013^3 = £11564.54

I hope this helped you!

User Carmen Sandoval
by
6.4k points