28-03-2021
Mathematics

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Colin invests £100 into his bank account.
He receives 4% per year compound interest.
How much will Colin have after 7 years?
Give your answer to the nearest penny where appropriate.

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28-03-2021

Answer: £100×104/100×104/100×104/100×104/100×104/100×104/100×104/100

=131.59

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