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02-11-2020
Mathematics

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Colin invests £5000 into his bank account.
He receives 10% per year simple interest.
How much will Colin have after 3 years?
Give your answer to the nearest penny where appropriate.

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02-11-2020

6500

Step-by-step explanation:

10% of 5000 is 500. So 500 × 3(years) would be 1500. Add that with the 5000 and you'd get 6500.

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