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Stephen places £950 in a bank account that pays 1.6% simple interest per year. a) How much interest will he earn each year? b) How much will he have in his account after 1 year?…

Stephen places £950 in a bank account that pays 1.6% simple interest per year. a) How much interest will he earn each year? b) How much will he have in his account after 1 year?…
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Stephen places £950 in a bank account that pays 1.6% simple interest per year.

a) How much interest will he earn each year?

b) How much will he have in his account after 1 year?​

User Branchverse
by
8.8k points

1 Answer

12 votes
a) 15.20
b) 965.2

i hope this is right (^^)
User Manan Mehta
by
8.6k points
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