A bank account has an annual interest rate of r%. If an amount of money, £A, is put into the account, then the value of the savings, £S, after n years is given by this formula: S = A (1 + r/100) n On his 40th birthday, Nathan puts £2000 into a bank account with a 3.4% annual interest rate. What will be the value of savings on his 70th birthday? Give your answer in pounds (£) to the nearest 1p.
