Melvin invests £5000 in an account paying 2.5% compound interest per annum.
Charlie invests £4500 in an account paying 3% compound interest per annum.
Work out the difference between the amount of money Melvin has after 5 years and the amount of money Charlie has after 5 years.
Practise Edexcel IGCSE Maths Compound Interest and Depreciation with exam-style questions for IGCSE Maths. 11 questions, matched to the Edexcel IGCSE Maths (4MA1) specification and written in Paper 1 and Paper 2 style. Every question includes a full worked solution and mark scheme, so you can see where marks are awarded rather than just whether you got the answer right.