2026 NCHS P1 Q8

2026 NCHS P1 Q8

Secondary 4
2 marks

Alice invests \(\$5000\) at a rate of \(r\%\) per annum compounded monthly.

At the end of 13 years, the value of her investment is \(\$7381\). Calculate the value of \(r\).[2]

Solution:

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Answer:\(r=3.00\).

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