Mathematics 0580 · IGCSE · Exponential growth and decay

Exponential growth and decay — practice question

(a)[2]

Midhil puts $\$1500$ into an account earning $4.2\%$ compound interest each year. Determine the value of the investment after $5$ years.

(b)[3]

Hitanshi places some money at $x\%$ compound interest per year. After $11$ years, the investment value is twice its original amount. Determine $x$.

Worked solution & mark scheme

This 5-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Evaluating gives $1500\times\left(1+\frac{4.2}{100}\right)^5=1842.59$.” …

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