Answer:
26.6 pounds
Step-by-step explanation:
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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 .
5/4=$406.25 thus $406.25/5*4=$325
The Martin family can drive 99 miles using 3 gallons of gas