Chapter 6.2, Problem 57E

CREDIT Card LOSSES in the United KINGDOM The mail and the Internet are major routes for fraud against merchants who sell and ship products. These merchants must often accept credit cards that are not physically present (called CNPs, credit cards not present). After peaking at 328.9 million British pounds (GBP) in 2008 (t = 0), CNP fraud in the United Kingdom began to decline at the rate of

$\text{R}(\text{t})=\frac{92.07}{\text{t}+1}$ (0 ≤ t ≤ 4)

million GBP/year in year t through 2012. What was the amount of CNP fraud on U.K.-issued credit cards in 2012?