Daniel's answer to kathy2's Secondary 3 E Maths Singapore question.

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Daniel
Daniel's answer
35 answers (Tutor Details)
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Is this correct?
kathy2
Kathy2
10 months ago
How to get 1.045?
Daniel
Daniel
10 months ago
The principal amount is 1, and interest rate of 4.5% is 0.045. You multiply 0.045 with principal amount (i.e. money invested) = interest earned in first year. So at end of first year, you have interest earned of 0.045 + initial sum of money of 1 = 1.045