Standard Form and Compound Interest - Compound Interest

Standard Form and Compound Interest - Compound Interest

A sum of \( \$5000\) is invested at a compound interest rate of \(6.3 \%\) per annum.

  1. Write down an expression for the value of the investment after \(n\) full years.
  2. What will be the value of the investment at the end of five years?
  3. The value of the investment will exceed \( \$10 \ 000\) after \(n\) full years,
    1. Write down an inequality to represent this information.
    2. Calculate the minimum value of \(n\).

Create a free account to practise similar questions.

Need help? Join our JC Math tuition classes.

Learn more