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if £2000 is placed into a bank account that pay 3% compound interest per year how much will be in the account after 2 year
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if £2000 is placed into a bank account that pay 3% compound interest per year how much will be in the account after 2 year

User Adriano Di Giovanni
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1 Answer

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Use the compound amount formula:

A = P(1+r)^t

Here, A = £2000 (1+0.03)^2 = £2121.80 (answer)
User JimG
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