Question

Brian invests £6300 into his bank account. He receives 4.9% per year compound interest. How much will Brian have after 2 years?

Answer 1

Answer:

Answer is £6917.4

Step-by-step explanation:

interest for 2 years = 6300 × 4.9% × 2

= 617.4

Answer 2

Step-by-step explanation:

given :

• Brian invests = >£6300

• he received = 4.9%

• Brian have after = 2 years

to find :

• Brian have after 2 years?

solution :

• Formula of compund interest = A = P× (1+ R/100)

• Where A is the amount after t years time P is the

• principal. R is the rate of interest.

• Principal amount,P = £6300

• Rate of interest,R = 4.9%

• Time,t = 2 years

• Putting the values in formula:

• A = 6300 × (1+ 4.9/100)

• 6300 × 10 4 .9/ 100

• 6932.53

• Amount that Brian has after 2 years = £6932.53