The Student Room Group

maths

Iestyn opened a savings account on
August
, investing
.
On
October
, he viewed his savings account online.
The table below shows all the transactions that had taken place since he opened the account.

Date Details Paid in (£) Paid out (£) Balance (£)

/
/
Account opened


/
/
Interest


/
/
Interest

Calculate the AER the account was paying.
Give your answer as a percentage, correct to
decimal places.
Original post by ejknfvvn
Iestyn opened a savings account on
August
, investing
.
On
October
, he viewed his savings account online.
The table below shows all the transactions that had taken place since he opened the account.

Date Details Paid in (£) Paid out (£) Balance (£)

/
/
Account opened


/
/
Interest


/
/
Interest

Calculate the AER the account was paying.
Give your answer as a percentage, correct to
decimal places.

You do realise that this question is missing each and every detail, don't you? The date the account was opened, the date the account was checked on-line, the date and amount of each transaction, including the interest transactions, and the number of decimal places required.

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