A bank manager wants to encourage new customers to open accounts with principals of at least $. He decides to make a poster advertising a simple interest rate of %. What must the principal be if the bank manager also wants to advertise that one can earn $ the first month? Can the poster correctly say, "Open an account of $ and earn at least $ interest in 1 month!"?

Question

06-02-2022
Mathematics

Answered

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A bank manager wants to encourage new customers to open accounts with principals of at least $. He decides to make a poster advertising a simple interest rate of %. What must the principal be if the bank manager also wants to advertise that one can earn $ the first month? Can the poster correctly say, "Open an account of $ and earn at least $ interest in 1 month!"?

Sagot :

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