Dan invests £800 into his bank account. He receives 5% per year compound interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate.

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asked Aug 26, 2021 12.4k views

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Dan invests £800 into his bank account. He receives 5% per year compound interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate.

Mathematics
high-school

MohammadSoori asked

by MohammadSoori

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1 Answer

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Answer:

£972.41

Explanation:

1 x 0.5 =1.05

1.05x 800 ^4= £972.405

rounded is £972.41

KDrewiske answered Sep 1, 2021

by KDrewiske

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