Answer:
70
Step-by-step explanation:
Answer:
The nearest penny will be <u>£9146.6</u>
Step-by-step explanation:
A = P[1 + (r/n)]^(nt)
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
A = 8300 [ 1 + {1.4 / (7*100)}]^(7*7)
A = 8300 [ 1 + {0.002}]^(49)
A= 8300 [ 1.002 ]^(49)
A = 8300 [ 1.102 ]
A = £9146.6
What is Compound Interest (CI) ?
Compound Interest is all about adding interest to principal amount of loan , deposit .
Answer:
£15347.07
Step-by-step explanation:
Given data
Amount=£19064.67
% decrease=19.5%
let us find the value of 19.5%
=19.5/100*19064.67
=0.195*19064.67
=£3717.6
Hence the new Amount after the decrease is
=19064.67-3717.6
=£15347.07