Apps. and Interpretation for IBDP Maths Ebook 1 | Page 86

Your Practice Set – Applications and Interpretation for IBDP Mathematics
4. $640000 is invested for t 1
years at a nominal annual interest rate of 5%, compounded
half-yearly. The amount after t 1
years is doubled.
Also, $640000 is invested for t 2
years at a nominal annual interest rate of 5%,
compounded quarterly. The amount after t 2
years is doubled.
Find the value of t 1
� t 2
.
[6]
76
SE Production Limited