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4 of 10 Colin invests £1100 into his bank account. He receives 5% per year simple interest. How much will Colin have after 6 years? Give your answer to the nearest penny where appropriate.
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4 votes
4 of 10

Colin invests £1100 into his bank account. He receives 5% per year simple interest. How much
will Colin have after 6 years? Give your answer to the nearest penny where appropriate.

User Michelletbs
by
4.3k points

1 Answer

7 votes

Answer:

1430

Explanation:

1100×(0.05×6)+1100=1430

User Jarod
by
5.7k points
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