Q1. Use the formula for compound interest/compound growth to calculate the interest earned in the following investments:



  • £400 invested for two years at an annual rate of 5%





Interest is therefore £41

  • £750 invested for five years at a rate of 3%




Interest is therefore £119.46

  • £50 for seven years invested at an annual rate of 5.5%



Interest is therefore £22.73

  • £25 for twelve years invested at an annual rate of 6%




Interest is therefore £25.30



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