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​Q7: Answers – Paper 3 – June 2018

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Content:

• ​Compound Interest​

Quizzes:​

• ​​Compound Interest

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Mark Scheme

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Working
Investment A

• Save £150 per month for 2 years.
• 2.5% interest is added to the total amount saved.

Investment B

• Invest £3500
• Compound interest is added at 3% per year.

After 2 years, how much more is investment B worth than investment A?

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Question

7)
Investment A

• Save £150 per month for 2 years.
• 2.5% interest is added to the total amount saved.

Investment B

• Invest £3500
• Compound interest is added at 3% per year.

After 2 years, how much more is investment B worth than investment A?

[4 marks]

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