Answered

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A new bank customer with $3,500 wants to open a money market account. The bank is offering a
simple interest rate of 1.1%.
a. How much interest will the customer earn in 10 years?
b. What will the account balance be after 10 years?

Sagot :

dominicl645

Answer:

A. they will earn 385 dollars in interest in ten years

B. the accounts balance will be $3,885 after 10 years

Step-by-step explanation:

for part A, there are 2 possible answers, depending on what your looking for, if your looking for the percentage interest, then its 11%, but if your looking for how much they will make off of interest in 10 years, then the answer would be $385.  

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