Answer: Steel is an alloy of iron with typically a few percent of carbon to improve its strength and fracture resistance compared to iron. Many other additional elements may be present or added. Stainless steels that are corrosion and oxidation resistant need typically an additional 11% chromium.
Explanation:
Annual Payment where F is accumulated sum of amount, n is number of years and i is annual rate of interest. The standard notation equation is in the image since i can’t type it-