A savings account pays 3.6% per annum simple interest.
Heidi puts £400 into the account.
How much will she have in the account after 5 years?
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Answer:
One year:
0.036(400)+400
Because it is 5 years:
5(0.036(400))+400
0.18(400)+400
We can make it simpler:
1.18(400)
Multiply
472
SHE WILL HAVE £472
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