Mateo invests £4000 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=4000×(1.035)n V = 4000 \times (1.035)^n V=4000×(1.035)nWrite down the annual rate of interest Mateo earns.
Find the total amount of interest Mateo earns in two years.
Practise Edexcel GCSE Maths Compound Interest and Depreciation with exam-style questions for Foundation and Higher tier. 44 questions, matched to the Edexcel GCSE Maths (1MA1) 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.