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Mathematics, 26.04.2021 20:50 stephanieboyd

Kay invests £1500 in an account paying 3% compound interest per year. Neil invests £1500 in an account paying r% simple interest per year.
At the end of the 5th year, Kay and Neil's accounts both contain the same amount of money.
Calculate r.
Give your answer correct to 1 decimal place.

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