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

User Hgwhittle
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1 Answer

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100% + 3% = 103%

103% ÷ 100% = 1.03%

2000 x 1.03% squared = 2121.8

User Davidnr
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