Colin invests £3300 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 4 years?
Give your answer to the nearest penny where appropriate.
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Colin invests £3300 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 4 years?
Give your answer to the nearest penny where appropriate.
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Answer:
£3714.18
Step-by-step explanation:
Sum- 3300
Interest rate- 3% compounded
Sum+profit after 4 years= ?
£3300*1.03⁴= £3714.18