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Dan invests £2700 into his bank account. He receives 2% per year compound interest. How much will Dan have after 4 years? Give your answer to the nearest penny where appropriate. |
| Answer» ANSWER Expert Verified2.4/58wifilethbridgeAmbitious5.4K answers8.7M PEOPLE helpedDan will have £2922.566Step-by-step explanation:Principal = £2700Rate of interest = 2% per yearTime = 4 yearsNo. of compounds per YEAR = 1Formula : A=AmountP = Principalr = rate of interestn = No. of compounds per yeart = timeSubstitute the valueHence Dan will have £2922.566 | |