Bryn takes out a loan of $£ 800$. This debt increases by $28 \%$ every year.
How much money will Bryn owe after 14 years?
Give your answer in pounds $(£)$ to the nearest $1 \mathrm{p}$.

Answer

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Answer

$\boxed{25353}$ pounds is the amount Bryn will owe after 14 years

Steps

Step 1 ：Calculate the amount Bryn will owe after 14 years using the formula: $Amount = Principal * (1 + Rate)^{Time}$

Step 2 ：Plug in the values: $Amount = 800 * (1 + 0.28)^{14}$

Step 3 ：Calculate the amount: $Amount = 25353.012004564596$

Step 4 ：Round the amount to the nearest pound: $Amount = 25353$

Step 5 ：$\boxed{25353}$ pounds is the amount Bryn will owe after 14 years