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Asked by Leah

Mary invests £12000 in a savings account. The account pays 1m5%compound interest per year. Work out the value of her investment after 2 years?

5% = 0.05 Appreciation of 5% : 100% + 5% = 105% = 1.05 £12,000 x (1.05)^2 = £13,230

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Nur Morshidi
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