Question

£4000 is invested at 1. 5% compound interest. (a) Show that the value of the investment after 2 years is £4120. 90____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(2)(b) In the third year the interest rate falls to 1. 4%In the fourth year the interest rate falls to 1. 35%Will the interest for year 4 be more or less than the interest for year 3?Tick a box. MoreLessYou must show your working

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