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Dan invests £15000 into his bank account.
He receives 2.5% per year simple interest.
How much will Dan have after 4 years ?

Respuesta :

Answer:

$16,557

Step-by-step explanation:

The computation of the amount after four years is shown below:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

=  £15,000 × (1 + 2.5%)^4

=  £15,000 × 1.025^4

= $16,557

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