Question

Colin invests £1200 into his bank account.

Answer 1

Answer:

After 3 years, he will have £3960,00

Step-by-step explanation:

Simple interest is defined as:

$a = p(1 + rt)$

Where:

a = final amount

p = principal / original amount

r = decimal rate of interest

t = number of years

Therefore:

$a = 1200(1 + 0.1)(3) \\ = 1200(1.1)(3) \\ = 3600 \times 1.1 = 3960$

Answer 2

The answer is after 3 years he will have £3960,00


Hope this will help you! :)