Question 1 of 5 · Number — compound interest and inflation
IB Maths AI SL · 4 marks
Layla invests USD 6 000 in an account paying 4.2% nominal annual interest, compounded monthly.
(a) Find the value of the investment after 5 years, to the nearest cent.
(b) Find the number of complete years before the investment first exceeds USD 9 000.
Method marks are awarded from what you write here, even if your final answer is wrong.