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Colin invests £2200 into his bank account. He receives 2.5% per year simple interest. How much will Colin have after 3 years? Give your answer to the nearest penny where appropriate.

Respuesta :

Answer:

  • Colin will have $2365 after 3 years.

Step-by-step explanation:

Using PRT/100, we can find the interest and then sum it up with the principle amount.

  • => 2200 x 2.5 x 3/100 = Interest
  • => 22 x 2.5 x 3 = Interest
  • => 55 x 3 = Interest
  • => 165 = Interest
  • => 2200 + 165 = Total amount
  • => $2365

Hence, Colin will have $2365 after 3 years.

Hoped this helped.

[tex]BrainiacUser1357[/tex]

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