Dan invests £1200 into his bank account. He receives 5% per year compound interest.
How much will Dan have after 5 years?
Give your answer to the nearest penny where appropriate.

At the beginning of year 1, carlos invests $600 at an annual compound interest rate of 4%. he makes no deposits to or withdrawals from the account. which explicit formula can be used to find the account's balance at the beginning of year 5? what is, the balance?