Dan invests £3400 into his bank account.
he receives 5% per year compound interest.
how much will dan have after 6 years?
give your answer to the nearest penny where appropriate.

4,556.33

Step-by-step explanation:

3400 times 5% is 3570

3570 times 5% is 3748.50  (2 year)

3748.50 times 5% is 3935. 925 (3 years)

3935. 925 times 5% is 4132.72125 (4 years)

4132.72125 times 5% is 4339.3573125 (5 years)

4339.3573125 times 5% is 4556.325178125  (6 years)

First, convert R percent to r a decimal

r = R/100

r = 5%/100

r = 0.05 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 3,400.00(1 + 0.05/1)(1)(6)

A = $ 4,556.33

Summary:

The total amount accrued, principal plus interest,

from compound interest on an original principal of

$ 3,400.00 at a rate of 5% per year

compounded 1 times per year

over 6 years is $ 4,556.33.

idk this answer sorry cant on this one.

step-by-step explanation: