Answered

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Jordan invests £2100 into his bank account.
He receives 5.1% per year simple interest.
How much will Jordan have after 2 years?
Give your answer to the nearest penny where appropriate.

Sagot :

sqvatorex

Answer:

£4414.20

Step-by-step explanation:

Find out how much is 1% of the money invested in his bank account.

100% = 2100

1% = 2100 ÷ 100 = 21

Find out 5.1% which is his interest that he receives every year.

5.1% = 21 x 5.1 = 107.1

Find out how much he receives including interest every year.

2100 + 107.1 = 2207.1

Find out how much he will have after 2 years.

2207.1 x 2 = 4414.2

You do not need to estimate as there isn't an estimated for nearest penny as it has been estimated for you.

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