if £2000 is placed into a bank account that pays 3% interest compound into how much will be in the account after 2 years?

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if £2000 is placed into a bank account that pays 3% interest compound into how much will be in the account after 2 years?

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Gia Bảo 5 years 2021-08-01T23:01:05+00:00 1 Answers 207 views 0

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  1. Delwyn
    0
    2021-08-01T23:02:51+00:00
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    Answer:

    Account Balance = Principal x (1 + interest rate (decimal))^number of years.  With the given information this is:  2000 (1.03)^2 = 2,121.80.  So you will earn 121.80 in interest after 2 years on your original 2000 deposit.

    Step-by-step explanation:

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