Mathematics · May / June 2022 · Paper 22 · Question 14
0580
As printed in the paper
The question as text
Carlos invests $4540 at a rate of r % per year compound interest. At the end of 10 years he has earned $1328.54 in interest. Calculate the value of r. r = [3]
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2.6[0] or 2.600… [3]
+
M2 for 10 1328.54 4540 4540 × 10
or M1 for 4540 k = 1328.54 + 4540 for any k If 0 scored
SC1 for answer –11.6 or –11.56…
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