3199390
Answered

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A new bank customer with ​$
4,000 wants to open a money market account. The bank is offering a simple interest rate of
1.3​%.
a. How much interest will the customer earn in
10 ​years?
b. What will the account balance be after
10 ​years?

:

Sagot :

1440 is the answer I think
IxXDuckyxXI

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.

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