Arlo invests £10000 for n n\,n years in a savings account.
To find the value, VVV, of his investment after n n\,n years he uses the formula:
V=10000×(1.015)n V = 10000 \times (1.015)^n V=10000×(1.015)nWrite down the annual rate of interest Arlo earns.
Find the total amount of interest Arlo earns in four years.
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.