4MA1/1FR Jun 2024, Question 20: Compound Interest
Pearson Edexcel International GCSE Mathematics A 4MA1 · Paper 1FR (Foundation) · Calculator · 3 marks
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The question, in short
Calculate the final amount in a savings account after investing 5200 euros for 4 years at 2.5% compound interest, rounded to the nearest euro.
Summarised in our own words. Use the official paper for the exact wording and any diagrams.
Solution · 3 marks
- 15200 × 1.025 = 5330
- 25330 × 1.025 = 5463.25
- 35463.25 × 1.025 = 5599.83125
- 45599.83125 × 1.025 = 5739.827...
- 55739.827... ≈ 5740
Answer5740
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