Number 4
3 marks · NormalComplete the following table, giving your answers to the nearest dollar.
| Original Value ($) | Compound Percentage p.a. | Time (years) | New Value ($) |
|---|---|---|---|
| 700 | +5 | 3 | |
| 2000 | -3 | 4 |
Work this out on paper, then compare with the answer and worked solution below. With a free account you can submit written answers for marking.
Show answer
Must show: 735.00, 1761.48
Common mistakes: uses simple instead of compound formula; incorrect multiplying factor
Show mark scheme and worked solution
Marking points
M1 · 1 mark · Uses appropriate multiplying factor for each row
A1 · 2 marks · Both new values are accurately calculated and rounded correctly
Worked solution
| Original Value ($) | Compound Percentage p.a. | Time (years) | New Value ($) |
|---|---|---|---|
| 700 | +5 | 3 | 811 |
| 2000 | -3 | 4 | 1761 |