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16-01-2022
Mathematics

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Alexandra invests £885 into an account that pays 2.75% simple interest per year.

Work out the total interest Alexandra gets after 16 years

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16-01-2022

Answer:

£389.4 (interest earned, not total amount of money in account)

Step-by-step explanation:

Interest = principal * rate * time (years)

I = 885 * 0.0275 * 16

I = 398.4

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