Year 12 Maths Standard 1 (2027)
Investment
Modelling Investments with a Spreadsheet
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Questions
Question 1
199220
The spreadsheet models \(\$1000\) invested at \(5\%\) p.a. simple interest, so the same \(\$50\) is added each year. Find the missing closing balance at the end of Year \(3\).
| Year | Opening balance (\(\$\)) | Interest (\(\$\)) | Closing balance (\(\$\)) |
|---|---|---|---|
| 1 | 1000 | 50 | 1050 |
| 2 | 1050 | 50 | 1100 |
| 3 | 1100 | 50 | ? |
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