7(a)Compound Growth DecayEasy2 marksTom invests $2500 at a rate of 4.4% per year compound interest.Calculate the value of the investment at the end of 6 years.$Grade answerSolutionGrading criteria
7(b)Compound Growth DecayMedium3 marksBehnaz invests $4500 at a rate of r% per year compound interest. At the end of 5 years, the value of the investment is $5420.Calculate the value of r.r=Grade answerSolutionGrading criteria