Solved IB Security Assistant Question
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Q · Compound IntetrestEasy · 45s
Find the amount of $2000 at 6% p.a. compound interest for 2 years (annual).
TopicCompound Intetrest
Question Typemultiple choice
DifficultyEasy
Marking+1 / −0.25
From TestChapter Test 1 (Chapter Test)
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained — no skipped algebra.
A = 2000×(1.06)^2 = $2247.20; CI = $247.20.
Final Answer: Option A — $2247.20