Colin invests £980 into his bank account. He receives 2.1% per year simple interest. How much will Colin have after 4 years? Give your answer to the nearest penny where appropriate.
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Answer:
1062.32
Step-by-step explanation:
Simple interest,SI
SI=(Principle x Time x Rate)/100
(980x2.1x4)/100
82.32
Total amount = principle + intrest
980+82.32
1062.32
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