Question

Colin invests £3700 into his bank account.
He receives 7% per year simple interest.
How much will Colin have after 4 years?
Give your answer to the nearest penny where appropriate.

Answer 1

Step-by-step explanation:

$<font color="pink">$

HEY MATE,

PRINCIPLE AMOUNT =£3700

RATE OF INTEREST = 7%

TIME =4 YRS

SIMPLE INTEREST:

$\frac{prt}{100} = \frac{3700 \times 7 \times 4}{100} = 37 \times 28 = 1036$

HENCE SI=£1036

Answer 2

Answer:

If you’re using hegarty, the answer is 4736 :)

Step-by-step explanation: