Question

Brian invests £600 into his bank account.
He receives 3.2% per year compound interest.
How much will Brian have after 6 years?
Give your answer to the nearest penny where appropriate

Answer 1

Answer:

It will be £2520

Step-by-step explanation:

1. 3.2=
2. $\frac{16}{5}$
3. $\frac{16}{5} \times 100 = 320$
4. 320
5. $320 \times 6 = 1920$
6. $1920 + 600 = 2520$