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Compound Interest and Depreciation

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Question 85

(a).

Fearne invests £5600 in a savings account. She gets 2% per annum compound interest. After $n\,$ years, Fearne has £6061.62 in her account.

Work out the amount Fearne has in her account after 3 years.

[1]

(b).

Hence work out the value of $n$ .

[2]

Markscheme

Compound Interest and Depreciation Questions

GCSE
Maths
Compound Interest and Depreciation

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

Compound Interest and Depreciation

Question bank

Compound Interest and Depreciation

Medium Hard

Question 85

(a).

Fearne invests £5600 in a savings account. She gets 2% per annum compound interest. After $n\,$ years, Fearne has £6061.62 in her account.

Work out the amount Fearne has in her account after 3 years.

[1]

(b).

Hence work out the value of $n$ .

[2]

Markscheme

Compound Interest and Depreciation Questions

GCSE
Maths
Compound Interest and Depreciation

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