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Maths Paper 1, November 2024, question 7.1

Maths P1 · Finance growth and decay
7.13 marks
On the day Sipho was born, his aunt invested R10 000 in a savings account. The account earns interest at 4% p.a., compounded quarterly. Calculate how much is in the account on Sipho’s 10th birthday, if nothing is added or withdrawn.

NSCBased on Nov 2024 · Paper 1 · Q7.1

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What examiners found

Compounding periods were muddled: the rate was not divided by 4 for quarterly interest, or the number of quarters was not counted correctly.

In our words. Source: Department of Basic Education, NSC 2024 Diagnostic Report, Part 1 (Book 1), Q7.1.

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