1. On 15 November in each of the years 1964 to 1979 inclusive an investor deposited £500 in a special bank savings account. On 15 November 1983 the investor withdrew his savings. Given that over the entire period the bank used an annual interest rate of 7% for its special savings accounts, find the sum withdrawn by the investor.
The total sum deposited by an investor from 1964 to 1979 is:
The amount earned from the interest rate:
Finally find the sum withdrawn by the investor:
Answer: 14440
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