Question

Paul leaves £4000 in the bank for two years. It earns compound interest of 5% per year. Calculate the total amount Paul's has in the bank at the end of the two year.

Pls give me working out and explanation !!!!

Answer 1

Answer:

£4400

Step-by-step explanation:

5% of 4000 is 200

200*2=400

4000+400=4400

£4400