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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 of 1.6%. a. How much interest will the customer earn in 10 years? b.…

A new bank customer with $3,500 wants to open a money market account. The bank is offering a simple interest of 1.6%. a. How much interest will the customer earn in 10 years? b.…
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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 of 1.6%.

a. How much interest will the customer earn in 10 years?
b. What will the account balance be after 10 years?
​

User Andrey Romashin
by
8.2k points

1 Answer

0 votes

Answer:

A is $490 and B is 3990

Explanation:

The way I solved this is with my last brain cells, you welcome.

User Kibaekr
by
7.5k points
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