Higher January 2019 Paper 2R Q9
9 Omar invests 6000 dirham for 4 years in a savings account.
He will get 1.5% per year compound interest.
Work out the total amount of interest Omar will have received by the end of 4 years.
Give your answer correct to the nearest dirham.
(3)
| Scheme | Marks |
|---|---|
| 6000 × 0.015 (= 90) or 6000 × 1.015 (= 6090) | M1 |
| (6000 + ‘90’) × 0.015 (= 91.35) (‘6090’ + ‘91.35’) × 0.015 (= 92.72) (‘6090’ + ‘91.35’ + ‘92.72’) × 0.015 (= 94.11..) | M1 |
| 368.18 | A1 |
| (3) | |
| (3 marks) |
Notes
M1: or for \(\dfrac{4 \times 1.5}{100} \times 6000\) (=360) or 6360
M1: for complete method (4 years) for total value or sight of 6368…..
A1: accept 368 – 368.20
M2 for 6000 × \(1.015^4\)