0580/21 May/Jun 2021, Question 12: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 21 (Extended) · Calculator · 2 marks
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The question, in short
Profit falls exponentially by 0.9% each year; starting at $9500 in 2014, calculate the profit in 2019.
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Solution · 2 marks
- 12014 to 2019 is 5 years
- 2Profit = 9500 × (1 − 0.9/100)⁵
- 3= 9500 × 0.991⁵
- 4= $9080.13
Answer9080 or 9080.13
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