walidwalidnawa1 walidwalidnawa1

02-01-2018
Mathematics

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if £2000 is placed into a bank account that pay 3% compound interest per year how much will be in the account after 2 year

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altavistard altavistard

02-01-2018

Use the compound amount formula:

A = P(1+r)^t

Here, A = £2000 (1+0.03)^2 = £2121.80 (answer)

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