Dan invests £1200 into his bank account.
He receives 5% per year compound interest.
How much will Dan have after 5 years

Question

11-02-2021
Mathematics

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Dan invests £1200 into his bank account.
He receives 5% per year compound interest.
How much will Dan have after 5 years

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s3769324 s3769324 · Answer 1 · 2021-02-11T13:59:36+01:00

s3769324 s3769324

11-02-2021

Well 5% of £1200 would be £60 which would be equal to 1 year and then you multiply that by 5 to find 5 years which is 300 and then you add the £300 onto the starting amount so £1200 + £300 = £1500

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Dan invests £1200 into his bank account. He receives 5% per year compound interest. How much will Dan have after 5 years

Respuesta :

Otras preguntas

Dan invests £1200 into his bank account.
He receives 5% per year compound interest.
How much will Dan have after 5 years