Question

Dan invests £1300 into his bank account. He receives 5% per year simple interest. How much will Dan have after 2 years? Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

$1433.25 is the answer

Step-by-step explanation:

For the first year the interest is 65$ and the new balance is 1365$ and the interest on this amount is 68.5$ and the total balance after 2 years is 1433.25

Answer 2

Answer:

1430

Step-by-step explanation:

the final value of simple interest is this if the person gives in compound then the already given answer is correct