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Compound interest

GCSE · Mathematics · OCR · N12Interpret fractions and percentages as operators

Question

OCR J560/05 — Higher (calculator)

Aisha invests £4,500 in an account paying 3.2% compound interest per year. She leaves the money for 5 years.

Calculate the value of her investment after 5 years, giving your answer to the nearest penny. [3]

3 marks · take your time before peeking.

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