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Answered

If £2000 is placed into a bank account that pays 3% compound interest per year,
how much will be in the account after 2 years?
3%OF £2000=£60
60X2=£120
£2000+£120=£2120

Answer :

£2000 * (1+3/100)^2
= £2120.8 after 2 years

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