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Brian invests £990 into his bank account. He receives 2.6% per year simple interest. How much will Brian have after 3 years? Give your answer to the nearest penny where appropriate

Sagot :

Answer:

£1067.22.

Step-by-step explanation:

Interest I= PRT/100    where P = Initial investment, R = % rate, T = time.

So I = 990*2.6* 3 / 100

= £77.22

So total he will have in the bank

= 990+77.22

= £1067.22.

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