Sarah wants to invest £5000 for three years. She can choose between Bank P and Bank Q.
2.5% compound interest per annum
3% compound interest in the first year 2.2% compound interest for each extra year
Which bank will give Sarah the most interest after three years? You must show your working.
163 exam-style questions on Eduqas GCSE Maths Compound Interest and Depreciation. Each one has a worked solution and a mark scheme showing where the marks go.