Amberlouise1012
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Toby is choosing a bank account.
He wants to invest his money for 5 years.

Account 1: 8.6% interest paid at the end of 5 years.
Account 2: 1.5% compound interest, paid annually.
Account 3: 1.7% simple interest on the starting amount, paid annually.

How much interest will Toby earn on £1000 with each account?
Round your answers to the nearest penny.
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ayumie
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Do each one individually - do you know the formulas for compound and simple interest?
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Amberlouise1012
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No I don't.
(Original post by ayumie)
Do each one individually - do you know the formulas for compound and simple interest?
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