Answer:
Step-by-step explanation:
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Answer:
none of these terms are like terms
The initial amount of the money is £11,000 and the interest is 3.9% per year for first 3 years and then 4.5% after that. If Dan invests it for 7 years, that means the interest would be 3 years of 3.9% and 4 years of 4.5%.
The calculation would be:
total money= initial amount * interestrate1 * interest 2
total money= £11000 *(100%+3.9%)^3<span>*(100%+4.5%)^4
</span>total money= £11000 *(103.9%)^3 * (104.5%)^4
total money= £11000 * <span>1.121622319 </span>* 1.1925186
total money= £14,713.11
