0580/23 Oct/Nov 2022, Question 12: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 23 (Extended) · Calculator · 3 marks
اقرأ هذا الحل مشروحاً بالعربي ←
The question, in short
Calculate the interest earned when $4000 is invested at 2.6% per year compound interest over 3 years.
Summarised in our own words. Use the official paper for the exact wording and any diagrams.
Solution · 3 marks
- 1Value = 4000 × (1 + 2.6/100)³
- 2= 4000 × 1.026³ = 4320.18
- 3Interest = 4320.18 − 4000 = $320.18
Answer320.18
Stuck on a step? Read the free lesson: Compound Interest
Practise more compound interest questions
Real 0580 past-paper questions, marked on your working like the exam, with a worked solution for every part.
Practise free on LemmaraMore past-paper questions on compound interest
Also searched as: 0580/23/O/N/22 · 0580_w22_qp_23 · 0580 w22 23 · question 12.
Lemmara is an independent study tool, not affiliated with or endorsed by Cambridge International Education. The worked solutions are Lemmara’s own.