2026 NASS P1 Q17

2026 NASS P1 Q17

Secondary 4
3 marks

Mr Fok bought a vase for \$58900.

The value of the vase appreciates by 0.1% each month.

  1. Explain why the appreciation value of the first year is not 1.2% of \$58900.[1]
  2. Calculate how much the vase is worth at the end of the third year.[2]

Solution:

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Answer:(a) Monthly appreciation compounds on an increasing principal. (b) \$61 057.93.

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