Max invests $$\(\$ 6000\)$$ in a savings account for 3 years. The account pays compound interest at a rate of $$\(1.5 \%\)$$ per year for the first 2 years. The compound interest rate changes for the third year. At the end of 3 years, there is a total of $$\(\$ 6311.16\)$$ in the account. Work out the compound interest rate for the third year. Give your answer correct to 1 decimal place. $$\(\%\)$$

Mathematics
IGCSE&ALevel
EDEXCEL
Exam No:4MA1_1H_que_20200305 Year:2020 Question No:11

Answer:



Knowledge points:

1: Numbers and the number system

Solution:

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