Samira wants to invest £1000 in an account paying a nominal annual interest rate of

MATHEMATICS · Subjective · GCSE · Mathematics · Ratio and Proportion · Ratio and Proportion

Problem

Samira wants to invest £1000 in an account paying a nominal annual interest rate of i%i\% , compounded quarterly. She wants to have £1500 in her account after 8 years. What value of ii is required?

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