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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 5

A business has an £18,000 variable-rate loan. The annual interest rate falls from 6% to 4.5%. Ignoring repayments, how much does its annual interest cost fall?

[1]
A

£180

B

£270

C

£810

D

£1,080

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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