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Jordan invests £2400 into his bank account.
He receives 2.5% per year simple interest.
How much will Jordan have after 6 years?
Give your answer to the nearest penny where appropriate.

Respuesta :

shakirachey

Answer: £2760

Step-by-step explanation:

Use the formula: [tex]A=P(1+rt)[/tex].

A = final amount

P = initial amount invested

r = annual interest rate

t = time (in years)

Insert all values in appropriate places.

[tex]A=2400(1+(0.025)(6))[/tex]

Simplify.

[tex]A=2400(1+(0.025)(6))[/tex]

[tex]A=2400(1+0.15)[/tex]

[tex]A=2400(1.15)[/tex]

[tex]A= 2760[/tex]

£2760 is the answer.

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