Question

A new bank customer with ​$4500 wants to open a money market account. The bank is offering a simple interest rate of 1.9​%. a. How much interest will the customer earn in 20 ​years? b. What will the account balance be after 20 years?

Answer 1

see below

Explanation:

$4500

simple interest 1.9% per year

20 years = 20*1.9%=38%

4500*(1+38%) = 6210