\(\pounds6000\) is deposited in a bank account for 2 years at \(4\%\) compound interest.
How much money is in the account after the 2 years?
\[\pounds6\,240\]
\[\pounds6\,489.60\]
\[\pounds6\,480\]
Michelle takes out a \(\pounds5\,200\) loan and will pay it back over 36 months. Her monthly payment is \(\pounds172\).
How much will she have paid in interest by the end of the loan period?
\[\pounds6\,192\]
\[\pounds992\]
\[\pounds27.56\]
Siobhan takes out a \(\pounds3,400\) loan and will pay it back over 24 months. Her monthly payment is \(\pounds160.54\).
\[\pounds452.96\]
\[\pounds18.87\]
\[\pounds3852.96\]
Three city centre shops have store cards with interest rates \(21.4\%, 19.3\%\) and \(24.7\%\).
Which is the best interest rate for the customer?
\[21.4\%\]
\[19.3\%\]
\[24.7\%\]
Harry puts \(\pounds2500\) in a bank account at \(2.6\%\) interest. How much interest will his money earn in 7 months?
\[\pounds65\]
\[\pounds2537.92\]
\[\pounds37.92\]