Dan invests £8200 into his bank account he receives 2% per year compound interest how much will Dan have after 7 years ?

Work Shown:

A = P*(1+r/n)^(n*t)

A = 8200*(1+0.02/1)^(1*7)

A = 9419.2224747241

A = 9419.22

Note: I assumed the bank is using annual compounding. The instructions didn't mention it, so that's why I went with n = 1. If your teacher or textbook mention otherwise, say monthly compounding, then you'll change n to n = 12. I would ask for clarification.

can you complete your sentence? i could !

a. (14,375+570)(5.3) b. 158,417$

step-by-step explanation:

a. you are basically just setting up the equation. f= amount of debt hence 14,375. g= how much she is borrowing from her parents weekly hence 570 and t= the interest on her debt. creating the equation.

b.   14,375+570= 14,945

      14,945 x 5.3 = 79,208.5

      79,208.5 x 2(years) = 158,417(answer)