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.
Answers
Answered by
1
P= £ 1300
T= 2 years
R= 5%
simple interest = PTR/100
1300 X 2 X 5/100
=130
AMOUNT = P+INTEREST
= 1300+130
= £ 1430
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