# calculating interest rate- GCSE mathWatch

Announcements
Thread starter 3 years ago
#1
I am studying compound interest atm but not sure how to calculate to find the actual interest rate? For example in this question :

compound interest is paid for two years and there is £5280.92 in the account. After three years there is £5597.78 in the account

A) what is the interest rate?
B) what amount of money was originally invested into the account

I'm really struggling with math so if anyone could help that would be great,thanks
0
reply
3 years ago
#2
(Original post by chloewilliams3)
I am studying compound interest atm but not sure how to calculate to find the actual interest rate? For example in this question :

compound interest is paid for two years and there is £5280.92 in the account. After three years there is £5597.78 in the account

A) what is the interest rate?
B) what amount of money was originally invested into the account

I'm really struggling with math so if anyone could help that would be great,thanks
5597.78/5280.92
≈ 1.06
≈ 6%
0
reply
X

Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

### Oops, nobody has postedin the last few hours.

Why not re-start the conversation?

see more

### See more of what you like onThe Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

### University open days

• The University of Law
Solicitor Series: Assessing Trainee Skills – LPC, GDL and MA Law - Exeter campus Postgraduate
Thu, 27 Feb '20
• University of East Anglia
PGCE Open day Postgraduate
Sat, 29 Feb '20
• Edinburgh Napier University
Postgraduate Drop-in Brunch Postgraduate
Sat, 29 Feb '20

### Poll

Join the discussion

#### Do you get study leave?

Yes- I like it (274)
60.89%
Yes- I don't like it (22)
4.89%
No- I want it (120)
26.67%
No- I don't want it (34)
7.56%

View All
Latest
My Feed

### Oops, nobody has postedin the last few hours.

Why not re-start the conversation?

### See more of what you like onThe Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.