Question

Dan invests £800 into his bank account.

Answer 1

Answer:

£972.41

Step-by-step explanation:

$A=P(1+\frac{r}{100})^n$                    

A = Amount after n years = ?

P = Principal amount = £800

r = interest rate = 5%

n = time for which the money was invested =  4 years

∴ A = 800 (1 + 5/100)⁴

      = £972.41

Hope this helps!