0580/11 May/Jun 2021, Question 18: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 11 (Core) · Calculator · 2 marks
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The question, in short
Calculate the value of $8300 invested at 5.6% per year compound interest after 6 years.
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Solution · 2 marks
- 1Value = 8300 × (1 + 5.6/100)⁶
- 2= 8300 × 1.056⁶
- 3= $11 509.6…
Answer11 500 or 11 510 or 11 509 or 11 509.6…
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