Mathematics 4024 · O Level · Exponential growth and decay

Exponential growth and decay — practice question

(a)[3]

Zaya puts $\$4500$ into a savings account. The account gives simple interest at a rate of $3.2\%$ per year. Calculate the value of the investment after $5$ years.

(b)[3]

Aisha puts $\$2750$ into a different savings account. This account pays compound interest at a rate of $2.1\%$ per year. Calculate the total amount of interest she receives after $3$ years.

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