SOLUTION: Donny borrows $20 from his brother Mike at a daily interest rate of 5%. How much will he owe his brother after 14 days?

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Question 121169: Donny borrows $20 from his brother Mike at a daily interest rate of 5%. How much will he owe his brother after 14 days?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
A=P(1+R)^T
A=20(1+.05)^14
A=20(1.05)^14
A=20*1.98
A=$39.60 AMOUNT OWED AFTER 14 DAYS.