0580/12 Feb/Mar 2023, Question 19: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 12 (Core) · Calculator · 2 marks
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The question, in short
Calculate the value of $3000 invested at 4% per year compound interest after 6 years.
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Solution · 2 marks
- 1Value = 3000 × (1 + 4/100)⁶
- 2= 3000 × 1.04⁶
- 3= 3795.9… ≈ $3796
Answer3800 or 3795 or 3796 or 3795.9…
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