Sec 3/4 E Math Mock 2-Q02 - Mock Paper 2: Calculating compound interest
Sec 3/4 E Math Mock 2-Q02 - Mock Paper 2: Calculating compound interest
Secondary 3
8 marks
Original parallel to Sec3&4 E Math FA
Mei Lin deposits \( \$5000\) in an account that pays compound interest at \(2\%\) per year.
- Calculate the amount in the account after \(4\) years.[4]
- Hence, calculate the total interest earned.[4]
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Answer:(a) \( \$5412.16\)
(b) \( \$412.16\)
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