O-LevelMathematicsNumber4024/22 · May/June 2025 · Q116 Marks
Zaya invests $4500 in a savings account. The account pays simple interest at a rate of 3.2% per year. Calculate the value of the investment at the end of 5 years.
- (a)Zaya invests $4500 in a savings account. The account pays simple interest at a rate of 3.2% per year. Calculate the value of the investment at the end of 5 years.[3]
- (b)Aisha invests $2750 in a different savings account. This account pays compound interest at a rate of 2.1% per year. Calculate the total amount of interest she receives at the end of 3 years.[3]
Mark scheme
Marking points from the official mark scheme (May/June 2025). The mark or mark type is shown in brackets.
- [3] B2 for answer 720 or M2 for (4500×3.2×5)/100 + 4500 oe or M1 for 4500×3.2[×5]/100 oe
- [3] B2 for answer 2930 or 2927 or 2926.9 or 2926.91[...] or M2 for 2750×(1+2.1/100)³ - 2750 oe or M1 for 2750×(1+2.1/100)³ oe
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