Answered

Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

A new bank customer with ​$4,000 wants to open a money market account. The bank is offering a simple interest rate of 1.4​%. a. How much interest will the customer earn in 20 ​years? b. What will the account balance be after 20 ​years? a. The customer will earn ​$ in interest.

Sagot :

flyingcarpet881

Answer:

A = $1,120 B = $5120

Step-by-step explanation:

1.4/100 = 0.014

0.014 x 4000 = 56

1.4% interest on the $4,000 is $56.

56 x 20 (years) = 1,120

A= $1,120

To get B simply add 1,120 to 4000.

1,120 + 4000 = 5120

B = 5120.

Orionnrichardson

Answer:hdhdh

Step-by-step explanation:

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.