Toby invested £7500 for 2 years in a savings account.
He was paid 4% per annum compound interest.
How much money did Toby have in his savings account at the end of 2 years?
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Toby invested £7500 for 2 years in a savings account.
He was paid 4% per annum compound interest.
How much money did Toby have in his savings account at the end of 2 years?
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Liam invests £6200 for 3 years in a savings account.
He gets 2.5% per annum compound interest.
How much money will Liam have in his savings account at the end of 3 years?
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Peter has £20 000 to invest in a savings account for 2 years.
He finds information about two savings accounts.
Peter wants to have as much money as possible in his savings account at the end of 2 years.
Which of these savings accounts should he choose?
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This notice was in a car magazine.
Most new cars lose more than half of their value in the first three years |
Paul bought a new car.
The value of the car was £15 000
In the first year, the value of the car depreciated by 23%.
After the first year, the value of the car depreciated by 18% each year.
Work out if Paul's car lost more than half of its value by the end of three years.
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Derek buys a house for £150 000
He sells the house for £154 500
Work out Derek's percentage profit.
Derek invests £154 500 for 2 years at 4% per year compound interest.
Work out the value of the investment at the end of 2 years.
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Anil wants to invest £25 000 for 3 years in a bank.
Which bank will give Anil the most interest at the end of 3 years?
You must show all your working.
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A virus on a computer is causing errors.
An antivirus program is run to remove these errors.
An estimate for the number of errors at the end of hours is
Work out an estimate for the number of errors on the computer at the end of hours.
Explain whether the number of errors on this computer ever reaches zero.
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Katy invests £200 000 in a savings account for 4 years.
The account pays compound interest at a rate of 1.5 % per annum.
Calculate the total amount of interest Katy will get at the end of 4 years.
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Zhi bought a house on 1st January 2017
When she bought the house, its value was 120 000 yuan.
The value of the house increased by 1.8% per year.
Work out the value of Zhi’s house on 1st January 2020
Give your answer correct to 3 significant figures.
....................................................... yuan
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Ali and Badia each have 25000 dollars to invest.
Cyclone Bank | Tornado Bank |
Invest 25 000 dollars |
Invest 25 000 dollars |
Ali invests in the Cyclone Bank for 3 years.
Badia invests in the Tornado Bank for 3 years.
By the end of the 3 years, Ali will have received more interest than Badia.
How much more?
Show your working clearly.
Give your answer correct to the nearest dollar.
....................................................... dollars
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Hamish buys a new car for $20 000
The car depreciates in value by 19% each year.
Work out the value of the car at the end of 3 years.
Give your answer to the nearest $.
$ .....................
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The price, £P, of a car is £20 000 in 2019.
The price is expected to decrease by 5% each year after 2019.
Jasmine says
This means the price in 2021 is expected to be £18 000.
She is incorrect.
Explain her error and work out the correct answer.
Her error is .........................................................
The correct answer is £ ...........................................................
Write a formula for in terms of , where is the number of years after 2019.
.............................
Circle the graph that best represents the price, £, of the car years after 2019.
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The value of a house, £H, is given by the formula
H = 165 000 × 1.03t
where t is the number of years after 1st January 2010.
Write down the value of the house on 1st January 2010.
£ ........................................................
Write down the annual percentage increase in the value of the house.
...................................................... %
Show that the value of the house is over £200000 on 1st January 2017.
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Kay invests £1500 in an account paying 3% compound interest per year.
Neil invests £1500 in an account paying r% simple interest per year.
At the end of the 5th year, Kay and Neil’s accounts both contain the same amount of money.
Calculate r.
Give your answer correct to 1 decimal place.
r = .....................................................
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Viv wants to invest £2000 for 2 years in the same bank.
At the end of 2 years, Viv wants to have as much money as possible.
Which bank should she invest her £2000 in?
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The population of a city increased by 5.2% for the year 2014
At the beginning of 2015 the population of the city was 1 560 000
Lin assumes that the population will continue to Increase at a constant rate of 5.2% each year.
Use Lin's assumption to estimate the population of the city at the beginning of 2017
Give your answer correct to 3 significant figures.
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Katie invests £200 in a savings account for 2 years.
The account pays compound interest at an annual rate of
3.3% for the first year
1.5% for the second year
Work out the total amount of money in Katie's account at the end of 2 years.
Katie travels to work by train.
The cost of her weekly train ticket increases by 12.5% to £225
Katie's weekly pay increases by 5% to £535.50
Compare the increase in the amount of money Katie has to pay for her weekly train ticket with the increase in her weekly pay.
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Jack has £15 000 to invest in a savings account for 3 years.
He finds information about two savings accounts.
Jack wants to have as much money as possible in his savings account at the end of the 3 years.
Which of these two savings accounts should he choose?
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Ian invested an amount of money at 3% per annum compound interest.
At the end of 2 years the value of the investment was £2652.25
Work out the amount of money Ian invested.
Noah has an amount of money to invest for five years.
Noah wants to get the most interest possible.
Which account is best?
You must show how you got your answer.
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At the beginning of 2009, Mr Veale bought a company.
The value of the company was £50 000
Each year the value of the company increased by 2%.
Calculate the value of the company at the beginning of 2017
Give your answer correct to the nearest £100
At the beginning of 2009 the value of a different company was £250 000
In 6 years the value of this company increased to £325 000
This is equivalent to an increase of each year.
Find the value of .
Give your answer correct to 2 significant figures.
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Max invests $6000 in a savings account for 3 years.
The account pays compound interest at a rate of 1.5% per year for the first 2 years.
The compound interest rate changes for the third year.
At the end of 3 years, there is a total of $6311.16 in the account.
Work out the compound interest rate for the third year.
Give your answer correct to 1 decimal place.
.....................%
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Jan invests in a savings account.
The account pays compound interest at a rate of per year.
At the end of years, there is a total of in the account.
Work out the value of
Give your answer correct to decimal places.
...............................................
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Amelia buys a new car.
The expected future value of this car, , is given by
where is the age of the car in complete years.
£ ..................... [1]
[1]
Show that the expected value of the car when 2 years old is £9000.
Amelia sketches a graph to show the expected value of her car as it gets older.
Explain how you know that Amelia’s graph is incorrect.
Amelia assumes that her car will have no value at all after 20 years.
Explain why her assumption is mathematically incorrect.
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On 1st November 2015 there were 4200 trees planted in a wood.
On 1st November 2016, only 3948 of these trees were still alive.
It is assumed that the number of trees still alive is given by
where N is the number of trees still alive t years after 1st November 2015.
Write down the value of .
Show that r is 0.94.
Show that on 1st November 2030 the number of trees still alive is predicted to have decreased by over 60% compared with 1st November 2015.
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Here are the interest rates for two accounts.
Account A Interest: |
Account B Interest: |
|
No withdrawals until the end of three years. |
Withdrawals allowed at any time. |
Derrick has £10000 he wants to invest.
Calculate which account would give him most money if he invests his money for 3 years.
Give the difference in the interest to the nearest penny.
Account ................... by ................... p
Explain why he might not want to use Account A.
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Naoby invests £6000 for 5 years.
The investment gets compound interest of per annum.
At the end of 5 years the investment is worth £8029.35
Work out the value of .
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Jean invests in an account paying compound interest for years.
In the first year the rate of interest is
At the end of the first year the value of Jean's investment is
In the second year the rate of interest is
What is the value of Jean's investment at the end of years?
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Jack bought a new boat for
The value, , of Jack's boat at the end of years is given by the formula
At the end of how many years was the value of Jack's boat first less than of the value of the boat when it was new?
A savings account pays interest at a rate of per year.
Jack invests £5500 in the account for one year.
At the end of the year, Jack pays tax on the interest at a rate of 40%.
After paying tax, he gets £79.20
Work out the value of .
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Katy invests in a savings account for years.
The account pays compound interest at an annual rate of
for the first year
for the second year
for the third year
There is a total amount of in the savings account at the end of years.
Work out the rate of interest in the second year.
Katy goes to work by train.
The cost of her weekly train ticket increases by 12.5% to £225
Work out the cost of her weekly train ticket before this increase.
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Himari invests 200 000 yen for 3 years in a savings account paying compound interest.
The rate of interest is 1.8% for the first year and for each of the second year and the third year.
The value of the investment at the end of the third year is 209 754 yen.
Work out the value of
Give your answer correct to one decimal place.
......................................................
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At the start of 2018, the population of a town was 17150.
At the start of 2019, the population of the town was 16807.
It is assumed that the population of the town is given by the formula
where P is the population of the town t years after the start of 2018.
Write down the value of
Show that r = 0 98.
Show that the population is predicted to be less than 16 000 at the start of 2022.
Use the formula to work out what the population might have been at the start of 2017.
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