SOLUTION: Brian invests £7900 into his bank account. He receives 2.3% per year compound interest. How much will Brian have after 5 years? Give your answer to the nearest penny where ap

Algebra ->  Finance -> SOLUTION: Brian invests £7900 into his bank account. He receives 2.3% per year compound interest. How much will Brian have after 5 years? Give your answer to the nearest penny where ap      Log On


   

Question 1099955: Brian invests £7900 into his bank account.
He receives 2.3% per year compound interest.
How much will Brian have after 5 years?
Give your answer to the nearest penny where appropriate.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
F=7900%281%2B2.3%2F100%29%5E5
F=7900%281.023%29%5E5
F=7900%281.120413%29
Work that out for the answer,