Higher November 2023 Paper 2 Q26
26 Rick borrows £1500 from a bank.
He pays back £100 each month.
This iterative formula works out the amount he still owes at the end of each month.
| \(A_{n+1} = 1.02 \times A_n - 100\) |
\(A_0 = 1500\)
Work out the amount he still owes at the end of the 2nd month. [3 marks]
| Answer | Mark | Comments |
|---|---|---|
| \(1.02 \times 1500 - 100\) or 1430 | M1 | oe |
| \(1.02 \times\) their \(1430 - 100\) or 1358.6 | M1dep | oe |
| 1358.60 | A1 | SC2 1285.77(2) |
Additional guidance
| Up to M2 may be awarded for correct work with no answer or incorrect answer, even if this is seen amongst multiple attempts | |
| Further work after 1358.6(0) seen | M1M1A0 |