0580/12 Oct/Nov 2024, Question 16: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 12 (Core) · Calculator · 2 marks
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The question, in short
Calculate the value of $3600 invested at 3.8% per year compound interest after 5 years.
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Solution · 2 marks
- 1Multiplier = 1 + 3.8/100 = 1.038
- 23600 × 1.038⁵ = 4337.99…
- 3$4340
Answer4340 or 4338 or 4337.99…
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