0580/31 Oct/Nov 2025, Question 19: Compound Interest
Cambridge IGCSE Mathematics 0580 · Paper 31 (Core) · Calculator · 3 marks
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The question, in short
Calculate the interest earned when $500 is invested at 2% per year compound interest over 7 years.
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Solution · 3 marks
- 1Amount = 500 × (1 + 2/100)⁷ = 500 × 1.02⁷
- 2= 574.34…
- 3Interest = 574.34… − 500 = 74.34… ≈ $74.3
Answer74.3 or 74.34…
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