Colin invests £2100 into his bank account. He receives 5% 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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asked Jul 2, 2020 234k views

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Colin invests £2100 into his bank account. He receives 5% per year simple interest. How much will Colin have after 3 years? Give your answer to the nearest penny where appropriate.

Mathematics
middle-school

Darcara asked

by Darcara

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1 Answer

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Answer:£2415

Explanation:

2100x0.01= 21 = 1%

21x5= 105 = 5%

105x3= 315 = 5% for 3 years

2100+315=2415

Amit Vujic answered Jul 6, 2020

by Amit Vujic

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