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Max invests some money in a savings bond.

The savings bond pays interest at a rate of 2% per year.

At the end of the first year, his savings bond is worth £5763

(b) How much money did Max invest in the savings bond?

Respuesta :

Answer:

£288150

Step-by-step explanation:

We'll use the formula

PRT/100= interest

But in this case we are looking for principal P

Rate= 2%

Interest= £5763

T=1

P= (I*100)/(RT)

P= (5763*100)/(2*1)

P= 288150

The principal is £288150

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