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mamaluj [8]
3 years ago
15

A bank promises to pay 5.5% pa compound interest on

Mathematics
1 answer:
Ahat [919]3 years ago
7 0

Answer:

  • £407.20

Step-by-step explanation:

  • Deposit = £2337
  • Interest = 5.5% pa compound
  • Time = 3 years

<u>Savings:</u>

  • 2337*((1 + 5.5/100)^3 - 1) =
  • 2337*((1.055)^3 - 1) =
  • 407.20
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