1) Deepak decides to look at bank loans to buy a car. He has seen a small car costing £5000. He wants to know how much he will repay if he takes a loan at 7% for 3 years. a) £6125.22 b) £7125.36 c) £6125.21 d) £5000 2) Sophie invests £2500 for 3 years in a saving account. She earns 2% per annum in compound interest. How much did Sophie have in her saving account after 3 years? a) £2653.02 b) £7650.00 c) £3654.78 d) £2500.00

Compound Interest

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