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

$4556

Step-by-step explanation:

Step one:

given data

Principal =£3400

rate= 5%= 0.05

time = 6years

Step two:

Required

The final amount A

A= P(1+r)^t

A=3400(1+0.05)^6

A=3400(1.05)^6

A=3400*1.341

A=$4556

after 6 years Dan will have $4556

What’s the improper fraction?

1. 0.3 •4 is the same as 4 groups of 0.32. 7•0.8 is the same as 7 groups of 0.83. it increases by 0.5 every time, so 0.5x4 it increases by 0.9 every time, so 0.9x5. 0.9•12=10.86. 0.47•5=2.35i can finish the next ones in a separate post