Mathematics for IGCSE & O level - Percentages (Section 4 - No. 37)
Yassim invested $500 at 4% compound interest. How many years will it take for the value of the investment to be over $600?
4 years
5 years
6 years
7 years
Explication
500 * (1 + 0.04)^n > 600. Solving for n yields n approximately 5 years