Answer:
After 3 years, he will have £3960,00
Step-by-step explanation:
Simple interest is defined as:
[tex]a = p(1 + rt)[/tex]
Where:
a = final amount
p = principal / original amount
r = decimal rate of interest
t = number of years
Therefore:
[tex]a = 1200(1 + 0.1)(3) \\ = 1200(1.1)(3) \\ = 3600 \times 1.1 = 3960[/tex]
