Dan invested ${\$\,x}$ in a bank at the start of 2023. The amount of money, ${\$\,P}$, at the en

Question

Dan invested ${\$\,x}$ in a bank at the start of 2023. The amount of money, ${\$\,P}$, at the end of ${t}$ years is denoted by ${P = 6800(1.015)^t}$. State the value of $x$.[1] Find the year in which the amount of money in the bank first reach $$\,8000$.[2]

Accepted Answer

(a) $x=6800$ (b) $2033$

2023 Ahmad Ibrahim Sec AM S3 EOY Q1

2023 Ahmad Ibrahim Sec AM S3 EOY Q1

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