AC9M10A04Year 10AlgebraPractised in part

AC9M10A04 — Year 10 Algebra

Official Curriculum Content Description:

use mathematical modelling to solve applied problems involving growth and decay, including financial contexts; formulate problems, choosing to apply linear, quadratic or exponential models; interpret solutions in terms of the situation; evaluate and modify models as necessary and report assumptions, methods and findings

Coverage notice: Practised in part

What this practice covers: calculating compound growth or decay

What is omitted: choosing between linear, quadratic and exponential models; interpreting and evaluating

Worked Examples (1)

Example 1Repeated Growth & Compound Decay
An initial amount of $500\$500 undergoes compound growth at a rate of 2%2\% per year for 22 years. Calculate the final value. Give your answer to 2 decimal places.
Common mistake: Using simple interest (N0+N0×rate×nN_0 + N_0 \times \text{rate} \times n) instead of compound interest.
Correct Answer:520.20520.20
Worked Solution:
Use the compound formula N=N0×(multiplier)n=500×(1.02)2=520.2N = N_0 \times (\text{multiplier})^n = 500 \times (1.02)^{2} = 520.2.

Ready to practise this descriptor?

Work through unlimited interactive questions for this curriculum skill, with instant answers and step-by-step methods.

Start unlimited online practicePrint Year 10 worksheet