Beth invests $$\(\$ 2000\)$$ at a rate of $$\(2 \%\)$$ per year compound interest. Calculate the minimum number of complete years it takes for the value of Beth's investment to increase from $$\(\$ 2000\)$$ to more than $$\(\$ 2500\)$$. .............................................
Exam No：0580_w20_qp_42 Year：2020 Question No：3(a)(iii)
Answer:
12
Knowledge points:
E1.16.1 Use given data to solve problems on personal and household finance involving earnings, simple interest and compound interest. (Includes discount, profit and loss.) (Knowledge of compound interest formula is required.)
E1.16.2 Extract data from tables and charts.
Solution:
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