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Hamza invests £160 in an ISA paying 2.6% compound interest per annum. Work out how much interest he will have been paid at the end of 10 years.

Hamza invests £160 in an ISA paying 2.6% compound interest per annum. Work out how much interest he will have been paid at the end of 10 years.
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11 votes
Hamza invests £160 in an ISA paying 2.6% compound interest per annum. Work out how much interest he will have been paid at the end of 10 years.

asked
User Gmarian
by
8.4k points

2 Answers

12 votes

Answer:

((1+2,6%)^10)×160

=206,820

answered
User DubVader
by
8.1k points
11 votes

Answer:

The answer is 1600

Explanation:

10×100=1000

10×60=600

answered
User Matthew Butterick
by
8.4k points
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