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16-04-2024
Mathematics

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2 Heath has £3000 to invest for five years. No extra money will be paid in or withdrawn during these five years. He is going to choose one of these accounts. Account A 4% compound interest per year Interest rates can vary Account B Guaranteed interest at the end of 5 years of £190 for each £1000 invested (a) Which account gives Heath the greater percentage increase in his money at the end of 5 years and by how much is it greater? Show how you decide. State any assumption that you make. [a] has had on your decision

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