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Dan invests £13000 into his bank account. He receives 4.3% per year simple interest. How much will Dan have after 5 years?


answer : 15795 :)

Respuesta :

Answer:

Amount after 5 year A = £15,795

Step-by-step explanation:

Given:

Deposit amount P = £13,000  

Rate or interest R = 4.3% = 0.043

Time T = 5 year  

Find:

Amount after 5 year A

Computation:

A = P + I

Amount after 5 year A = P + [PRT]

Amount after 5 year A = 13,000 + [(13,000)(0.043)(5)]

Amount after 5 year A = £15,795