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Neil places £2000 in a bank account that pays 1.5% simple interest per year.How much interest will he earn in 6 years?

Neil places 2000 in a bank account that pays 15 simple interest per yearHow much interest will he earn in 6 years class=

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PeachyLove

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➷ final = original x multiplier^n

final = 2000 x 1.015^6

final = 2186.886528

Interest = final - original

Interest = 186.8865

He will earn £186.89 interest

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