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Compound Interest and Depreciation

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Question 12

Sam wants to invest £9000 for three years. He can choose between Bank A and Bank B.

Bank A

1.1% compound interest per annum

Bank B

1.5% compound interest in the first year 1.2% compound interest for each extra year

Which bank will give Sam the most interest after three years? You must show your working.

[4]
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Compound Interest and Depreciation Questions

  1. GCSE
  2. /Maths
  3. /Compound Interest and Depreciation

161 exam-style questions on Edexcel GCSE Maths Compound Interest and Depreciation. Each one has a worked solution and a mark scheme showing where the marks go.

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