David is looking to invest a sum of money for 3 years. He considers two bank offers:
Plan A: 4.5% compound interest per annum Plan B: 5.0% simple interest per annum
Which plan should David choose? You must show your working.
Practise AQA GCSE Maths Compound Interest and Depreciation with exam-style questions for Foundation and Higher tier. 44 questions, matched to the AQA GCSE Maths (8300) specification and written in Paper 1, Paper 2 and Paper 3 style. Every question includes a full worked solution and mark scheme, so you can see where marks are awarded rather than just whether you got the answer right.