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13 December, 05:05

Colin invests £100 into his bank account.

He receives 4% per year compound interest.

How much will Colin have after 7 years?

Give your answer to the nearest penny where appropriate.

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Answers (1)
  1. 13 December, 07:42
    0
    The answer is $131.59

    After year 1

    104

    Year 2

    108.16

    Year 3

    112.49

    Year 4

    116.98

    Year 5

    121.67

    Year 6

    126.53

    Year 7

    $131.59
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