Question

Advertising A bank manager wants to encourage new customers to open accounts with principals of at least $3,000. He decides to make a poster advertising a simple interest rate of 3%. What must the principal be if the bank manager also wants to advertise that one can earn $10 the first month? Can the poster correctly say, "Open an account of $3,000 and earn at least $10 interest in 1 month!"?​

Answer 1

Answer: 4,000

Step-by-step explanation: Dont feel like explaining, just trust me.

Answer 2

Answer: I GOT YOU

Step-by-step explanation: The poster says, "Open an account of ​$3,500 and earn at least ​$10 interest in 1​ month!" is correct

He decides to make a poster advertising a simple interest rate of 4.8%.

We have to find what must the principal be if the bank manager also wants to advertise that one can earn $10 the first month

So, the statement is correct.

Hence, the amount to be invested is $2500 and the poster says correctly.