Question: 1. How much do you need to invest now in order to earn £25,000 in 10 years' time if the interest rate is
(a) 10%
(b) 8%
(c) 6.5%?
2. How many complete years must £2,400 be invested at 5% in order to accumulate a minimum of £3,000?
3. For how long must £5,000 be kept in a deposit account paying 8% interest before it accumulates to £7,500?