Foundation November 2019 Paper 2 Q16
16 Maria invests £4500 in a savings account for 3 years.
The account pays simple interest at a rate of 1.8% per year.
Work out the total amount of interest Maria gets by the end of the 3 years. (2)
| Answer | Mark | Mark scheme |
|---|---|---|
| 243 | M1 | for \(1.8 \div 100 \times 4500\) oe \((= 81)\) or for a complete method eg \(4500 \times 1.8 \times 3 \div 100\) oe or for 4743 or 4257 |
| A1 | cao |
Additional guidance
Award M1 for \(4500 \times 1.018^n\)