Colin invests £1100 into his bank account. He receives 5% per year simple interest.
How much will Colin have after 3 years?
Give your answer to the nearest penny where appropriate.

£

Colin will have $1,265 after three years.

Step-by-step explanation:

First, we find the amount of interest Colin will have by using the following formula,

simple interest = principal * interest rate * time

now that we know the formula, we substitute the numbers in.

simple interest = $1,100 * 5% * 3

since the interest rate is obviously a percentage, we have to convert it into a decimal.

simple interest = $1,100 * 0.05 * 3

now that it is a decimal, we can solve this expression.

simple interest = $1,100 * 0.05 * 3

simple interest = $55 * 3 (here, we did $1,100 * 0.05 first so that it doesn't get confusing with all the numbers, it will be easier with two final numbers)

simple interest = $165

Colin has $165 simple interest but over here asks how much she will have AFTER 3 years. think about it, can you have $165 after having $1,100 in your bank AFTER 3 years? no, so we need to add the interest by the principal by using the following formula,

total amount = principal + simple interest

now, we substitute the numbers in.

total amount = principal + simple interest

total amount = $1,100 + $165

total amount = $1,265  

Therefore, Colin will have $1,265 after 3 years.

the answer is 14ft

step-by-step explanation: