Br0h7eehee Br0h7eehee

10-02-2021
Mathematics

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Paul invests £150 in a bank account paying 2% interest per annum for 10 years. Work out how much money he has in the account at the end of the 10 years

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topeadeniran2 topeadeniran2

15-02-2021

Answer: £180

Step-by-step explanation:

The interest gotten for the 10 years will be calculated as:

= Principal × Rate × Time

= 150 × 2% × 10

= 150 × 0.02 × 10

= 30

The amount he has in the bank account at the end of the 10 year will be:

= Principal + Interest

= £150 + £30

= £180

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