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The same starting amount each year - Online practice 3
Read the information, then answer the questions. An adult may read the instructions aloud. Show your working where asked.
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An invented account starts with £320.00 and pays SIMPLE interest at 5% per year for 2 years. Each year's interest uses the ORIGINAL amount. There are no fees, extra deposits or withdrawals. Interest = principal x rate/100 x years; total = principal + interest. This is a mathematical model, not a financial offer.
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