Faith invests £800 for 3 years in a bank account. The account pays simple interest at a rate of 0.4% per year Work out the total amount of interest Faith has got at the end of the 3 years.

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asked Dec 1, 2024 194k views

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Faith invests £800 for 3 years in a bank account. The account pays simple interest at a rate of 0.4% per year Work out the total amount of interest Faith has got at the end of the 3 years.

Mathematics
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Rehan asked

by Rehan

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0.4% of 800 = 0.8 x 4 = 3.2

3.2 x 3 = 9.6

800 + 9.6 = £809.60

Anthony Rutledge answered Dec 6, 2024

by Anthony Rutledge

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