$40.00 ; 20% discount
2 answers:
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A calculator says,
a) account balance: $208.12, so interest earned = $8.12
b) account balance: $1040.60, so interest earned = $40.60
c) account balance: $83,248.32, so interest earned = $3,248.32
_____
The compound interest multiplier for one year is (1 +r/n)^n, where r is the annual rate and n is the number of compoundings in a year. For this problem, you have r=.04, n=4.
a) account balance: $208.12, so interest earned = $8.12
b) account balance: $1040.60, so interest earned = $40.60
c) account balance: $83,248.32, so interest earned = $3,248.32
_____
The compound interest multiplier for one year is (1 +r/n)^n, where r is the annual rate and n is the number of compoundings in a year. For this problem, you have r=.04, n=4.
Answer:
Altogether Gavin and Jim won £95.
Step-by-step explanation:
We are given the following in the question:
Ratio of money won by Gavin and Jim = 5:2
Gavin gets £39 more than Jim.
Let x be the amount of money Won by Jim.
Then, money won by Gavin =
Thus, we can write the equation:
Solving, we get,
Thus, Gavin won £65 and Jim won £26.
Money won altogether =
Thus, altogether Gavin and Jim won £95.