Mathematics · May / June 2024 · Paper 22 · Question 8
0580
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Kai invests $5000 in an account paying simple interest at a rate of r % per year. At the end of 8 years, the value of his investment is $5700. Find the value of r. r = [3]
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1.75 [4]
)[ ]
M2 for ( − × 3 5700 5000 1 00 oe × 5000 8 or ( ) − × 5700 5000 1 00 oe [ ] × 5000 8 ×× 5000 8 r oe =
or M1 for [5700 – 5000] 100
or B1 for 87.5 or 0.14 or 1.14 If 0 scored
SC1 for answer 14.25
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