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Mark wants to borrow money to buy a car. His bank offers him a loan of £5,000 to be payed back over 3 years at 4% compound interest. a) Work out the interest acquired in the 2nd year. b) In total how much will Mark end up paying back the bank?

In questions concerning compound interest, interest is added to principle sum at the end of each year. Therefore, the interest increases each year as you are paying interest on...

Answered by Laura M. • Maths tutor

4836 Views

How to get A and A* in Maths?
It may sound cliched - however to get the highest marks in Maths at A levels means going beyond your exam board! Do not just rely on the past paper questions from your exam board but try a few papers f...
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The graph with equation y= x^3 - 6x^2 + 11x - 6 intersects the x axis at 1, find the other 2 points at which the graph intersects the x axis
the equation: x³- 6x²+ 11x -6

Becasuse it intersects at the x axis, y=0 so we set the equation equal to 0. x³- 6x²+ 11x -6 =0

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Answered by Jestin J. • Maths tutor
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How do I do implicit differentiation?
The main thing to remember with implicit differentiation is to differentiate each thing as you see it. Don't worry about rearranging the equation until you have differentiated everything first. Say you...
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How do I divide fractions?
If you know how to multiply fractions, then dividing fractions only involves two more simple steps!

1. Turn the division sign into a multiplication sign.

2. Flip the last f...
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Top answers

Mark wants to borrow money to buy a car. His bank offers him a loan of £5,000 to be payed back over 3 years at 4% compound interest. a) Work out the interest acquired in the 2nd year. b) In total how much will Mark end up paying back the bank?

How to get A and A* in Maths?

The graph with equation y= x^3 - 6x^2 + 11x - 6 intersects the x axis at 1, find the other 2 points at which the graph intersects the x axis

How do I do implicit differentiation?

How do I divide fractions?

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