Daniel invests £2200 into his bank account.
He receives 10% per year simple interest.
How much will Daniel have after 2 years?
Give your answer to the nearest penny where appropriate.
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Answer:
£2640
Step-by-step explanation:
Principal =£2200
Rate of interest =10%
Time=2 years
Simple Interest =PRT/100
=£2200×10×2/100
=£440
Amount =£2200+440
=£2640
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