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Today at 2:07 PM
Mathematics

Answered

Dan invests £1200 into his bank account.
He receives 5% per year compound interest.
How much will Dan have after 5 years?
Give your answer to the nearest penny where appropriate

Answer :

Ishikide Ishikide

Today at 2:12 PM

Answer:

The amount Dan will recieve after 5 years is:

1200*(1+5%)^5

=1532,correct to nearest penny

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