Jordan invests £16200 into his bank account.
He receives 2.5% per year simple interest.
How much will Jordan have after 5 years?
Give your answer to the nearest penny where appropriate.
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Principal(P) = £16200
Rate of interest(R) = 2.5%
Time (t) = 5 years
We know that, 1 pound = 100 pence
So, 18225 pounds = 18225 * 100 = 1822500
Therefore money with Jordan after 5 years will be 1822500 pence .
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