0580/41 May/Jun 2025, Question 16: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 41 (Extended) · Calculator · 3 marks
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The question, in short
Given a $1250 investment growing at r% compound interest for 6 years to $1484, calculate the annual rate r.
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Solution · 3 marks
- 11250 × (1 + r/100)⁶ = 1484
- 21 + r/100 = ⁶√(1484/1250) = ⁶√1.1872 = 1.02901…
- 3r = 2.901… ≈ 2.90
Answer2.90 or 2.901…
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