Colin invests £2200 into his bank account. He receives 2.5% per year simple interest. How much will Colin have after 3 years? Gi
1 answer:
<u>Answer:</u>
- Colin will have $2365 after 3 years.
<u>Step-by-step explanation:</u>
<u>Using PRT/100, we can find the interest and then sum it up with the principle amount.</u>
- => 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, <u>Colin will have $2365 after 3 years.</u>
Hoped this helped.
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