| Total Interest £ | Total to be repaid £ | |
|---|---|---|
| Simple Interest | 3.00 | 53.00 |
| Compound Interest | 3.06 | 53.06 |
| Year | Simple Interest £ | Compound Interest £ | ||
|---|---|---|---|---|
| Interest added £ | Outstanding Debt | Interest added | Outstanding Debt | |
| Start | 50.00 | 50.00 | ||
| 1 | 1.00 | 51.00 | 1.00 | 51.00 |
| 2 | 1.00 | 52.00 | 1.02 | 52.02 |
| 3 | 1.00 | 53.00 | 1.04 | 53.06 |