Question

Brian invests £990 into his bank account. He receives 2.6% per year simple interest. How much will Brian have after 3 years? Give your answer to the nearest penny where appropriate. Get help Report a m

Answer 1

Answer:

SI = £772 total amount = £1762

Step-by-step explanation:

{SI = prt/100 p= £990 , r = 2.6% , t = 3 prt/100 =990×2.6×3/100 = 772.20} SI = £772.20 or £772 , total amount = £990+£772 = £1762

Answer 2

Answer:

£1067.22

Step-by-step explanation:

To work out the simple interest, you must do:

2.6% of £990 which is £25.74

Then you multiply it by 3 because it is asking how much Brian will have after 3 years. So 25.74 x 3 = £77.22 which you then add on to £990 and you get £1067.22 which is already to the nearest penny.

Hope that helps!