Question

Dan invests £9200 into his bank account.
He receives 4% per year compound interest.
How much will Dan have after 2 years ?

Answer 1

Answer:

£9950.7

Step-by-step explanation:

compound interest formula

A=P(1+R/100)^P

A= FINAL AMOUNT

P= INITIAL PRINCIPAL AMOUNT

R= INTEREST RATE

P= TIME PERIOD

NOW FILL IN THE REQUIRED FIGURES

A=9200(1+4/100)^2

=9950.72

=9950.7

Hope this helps u Mark it as a brainliest please

Answer 2

solution:

a = p(1+r/100)^n

a = 9200 × 26/25 × 26/25

= $9950