Giving Brainliest (check photo) 12. Raising finance
Mark: /15
1. Josh has £50 000 in a savings account. He intends to leave it there for the next 3 years and has
a fixed annual interest rate of 3% per year. How much will Josh have in personal savings at the end
of 3 years £50 000?
/4 marks
2. Sanja Ltd's is experiencing short term cash flow problems of £200 000 and is considering an
overdraft.
The bank has offered Sanja Ltd a 3 month overdraft at 5% on the condition that £50 000 is paid
back at the end of each month. Interest will be charged on the balance at the start of the month.
a. How much will Sanja have to pay back in interest in month 1?
/2 marks