4MA1/2F Jan 2019, Question 21: Compound Interest
Pearson Edexcel International GCSE Mathematics A 4MA1 · Paper 2F (Foundation) · Calculator · 3 marks
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The question, in short
Calculate the final amount when $8500 is invested for 3 years at 2.3% compound interest per year, rounded to the nearest dollar.
Summarised in our own words. Use the official paper for the exact wording and any diagrams.
Solution · 3 marks
- 18500 × 1.023 = 8695.5
- 28695.5 × 1.023 = 8895.4965
- 38895.4965 × 1.023 = 9100.09
- 49100
Answer9100
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