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Compound Interest and Depreciation

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Question 1
42%

Jesy invests £8000 for n n\,n years in a savings account.

To find the value, VVV, of her investment after n n\,n years she uses the formula:

V=8000×(1.025)n V = 8000 \times (1.025)^n V=8000×(1.025)n
a.

Write down the annual rate of interest Jesy earns.

[1]
b.

Find the total amount of interest Jesy earns in three years.

[2]

Compound Interest and Depreciation Questions

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