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4 marksSimple Interest

CSEC Mathematics · May/June 2004 · Paper 2 · Question 1(c)(i)

Mr Mitchell deposited 40 000 in a bank and earned simple interest at 7% per annum for two years. Mr Williams bought a plot of land for 40 000. The value of the land appreciated by 7% each year.

Calculate the amount Mr Mitchell will receive at the end of the two-year period.

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Other parts of this question

  1. 1(a)(i)Determine the exact value of 2.3² + 4.1².[6 marks]
  2. 1(a)(ii)Determine the exact value of 0.18 / 0.6 - 0.003.[6 marks]
  3. 1(a)(iii)Determine the exact value of (3 1/5 - 2 2/3) / (2/5).[6 marks]
  4. 1(b)(i)Write your answer in Part (a)(i) correct to one significant figure.[2 marks]
  5. 1(b)(ii)Write your answer in Part (a)(ii) in standard form.[2 marks]
  6. 1(c)(ii)Calculate the value of Mr Williams' land after a period of two years.[4 marks]

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