Edna invests $$\(\$ 500\)$$ at a rate of $$\(r \%\)$$ per year compound interest. At the end of 6 years, the value of Edna's investment is $$\(\$ 559.78\)$$. Find the value of $$\(r\)$$. $$\[ r= ............................................ \]$$
Exam No：0580_s20_qp_42 Year：2020 Question No：1(c)(iii)
Answer:
1.9
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.)
Solution:
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