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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.…

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.…
asked 56.2k views
18 votes
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.

asked
User Daniel Powell
by
7.4k points

1 Answer

10 votes

Answer:

£160

Explanation:

Ammount he receives per year times 4.

800 x 0.05 x 4

= £160

answered
User Lalit Kushwah
by
9.1k points
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