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Compound Interest and Depreciation

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Question 31

Liam invests £3500 in a cash ISA paying 5% compound interest per annum. Chloe invests £3800 in a different account paying 4.2% compound interest per annum.

Work out the difference between the amount of money Liam has after 3 years and the amount of money Chloe has after 3 years.

[4]

Compound Interest and Depreciation Questions

  1. GCSE
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