Question

Dan invests £1300 into his bank account. He receives 5% per year simple interest. How much will Dan have after 2 years? Give your answer to the nearest penny where appropriate.

Answer 1

Answer:

I=prn=£1300*5*2/100=£130

Answer 2

Answer:

£1430

Step-by-step explanation:

5% of 1300 = 65

1300+65+65 = 1430

Hope this helps ya'll!