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rusak2 [61]
2 years ago
13

Brian invests £990 into his bank account. He receives 2% per year simple interest. How much

Mathematics
1 answer:
nata0808 [166]2 years ago
4 0

~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \£990\\ r=rate\to 2\%\to \frac{2}{100}\dotfill &0.02\\ t=years\dotfill &4 \end{cases} \\\\\\ A=990[1+(0.02)(4)]\implies A=990(1.02)(4)\implies A=4039.2

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