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2.8 The role of money and financial markets

2.8 The role of money and financial markets

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Question 8

A borrower takes a £12,000 one-year loan. The interest rate rises from 4% to 5.5%. How much additional interest will be paid over the year?

[1]
A

£180

B

£480

C

£660

D

£1,140

Markscheme

2.8 The role of money and financial markets Questions

  1. GCSE
  2. /Economics
  3. /2.8 The role of money and financial markets

30 exam-style questions on OCR GCSE Economics 2.8 The role of money and financial markets, covering 2.8.1 Money as a medium of exchange, 2.8.2 Role of the financial sector, 2.8.3 Importance of the financial sector, 2.8.4 Interest rates and saving, borrowing, investment, and 2.8.5 Effect of interest rate changes. Each one has a worked solution and a mark scheme showing where the marks go.

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