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2 December, 08:11

If £2000 is placed into a bank account that pay 3% compound interest per year how much will be in the account after 2 year

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  1. 2 December, 08:32
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    Use the compound amount formula:

    A = P (1+r) ^t

    Here, A = £2000 (1+0.03) ^2 = £2121.80 (answer)
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