Mathematics · May / June 2023 · Paper 21 · Question 13
0580
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Anya invests $6000 in an account that pays compound interest at a rate of r % per year. At the end of 8 years, the account has earned $621.70 in interest. Calculate the value of r. r = [3]
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1.24[0…] [3]
+ M2 8 6000 621.70 oe 6000 () + = 8
or M1 for 6000 621.70 6000 k oe
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