Brian invests £2500 into his bank account. He receives 2.5% per year simple interest. How much will Brian have after 5 years? Give your answer to the nearest penny where appropriate
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Answer:
£2812.50
Step-by-step explanation:
given, p=2500, r=2.5%, t=5 years
SI=prt/100=2500x2.5x5/100=25x2.5x5=62.5x5=312.5
therefore, amount=2500+312.5=2812.5
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