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Jordan invests £17200 into his bank account.
He receives 3.5% per year simple interest.
How much will Jordan have after 6 years?
Give your answer to the nearest penny where appropriate.

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shakirachey

Answer: £20812

Step-by-step explanation:

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

A = final amount

P= initial amount invested

r = interest rate

t = time (in years)

Place all values in appropriate places.

[tex]A=17200(1+(0.035)(6))[/tex]

Simplify.

[tex]A=17200(1+(0.035)(6))[/tex]

[tex]A=17200(1+0.21)[/tex]

[tex]A=17200(1.21)[/tex]

[tex]A=20812[/tex]

£20812 is the answer.

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