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Compound Interest and Depreciation

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Question 23

David is looking to invest a sum of money for 3 years. He considers two bank offers:

Plan A: 4.5% compound interest per annum Plan B: 5.0% simple interest per annum

Which plan should David choose? You must show your working.

[4]

Compound Interest and Depreciation Questions

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