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16 January, 22:06

Abi invests £500 for 4 years in a bank account.

The account pays simple interest at a rate of 2.3% per year.

Work out the total amount of interest Abi has got at the end of 4 years.

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  1. 16 January, 22:35
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    Total interest = principal*interest rate*time

    I=500*0.023*4

    I=46
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