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​Q23: Answers – Paper 1 – November 2018

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Content:

• Simple Interest
• Compound Interest​

Quizzes:

• Simple Interest
• ​Compound Interest

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Mark Scheme

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Working

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Question

23) Here are the interest rates for two bank accounts.

Mia puts £6400 in each account.

Calculate the difference in value between the two accounts after 8 years.
​Give your answer correct to the nearest penny.

[6 marks]​

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