4MA1/2H Jun 2022, Question 9: Compound Interest
Pearson Edexcel International GCSE Mathematics A 4MA1 · Paper 2H (Higher) · Calculator · 3 marks
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The question, in short
Calculate the final amount in a savings account after investing 50000 dollars for 4 years at 1.3% 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
- 150000 × 1.013 = 50650
- 250650 × 1.013 = 51308.45
- 351308.45 × 1.013 = 51975.45...
- 451975.45... × 1.013 = 52651.13...
- 552651
Answer52 651
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