0580/13 Oct/Nov 2024, Question 22: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 13 (Core) · Calculator · 2 marks
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The question, in short
Calculate the value of Mia's $1270 investment after 5 years at 2.1% per year compound interest.
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Solution · 2 marks
- 1Value = 1270 × (1 + 2.1/100)⁵ = 1270 × 1.021⁵
- 2= 1409.069… ≈ $1409.07
Answer1409.07 or 1409.069… or 1410 or 1409 or 1409.1
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