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A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate of 1,6%. a. How much interest will the customer earn in 10 year…

A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate of 1,6%. a. How much interest will the customer earn in 10 year…
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A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate 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 Ingve
by
7.9k points

1 Answer

2 votes

Answer:

$860.10

Explanation:

A new bank customer with $5,000 wants to open a money market account. The bank is-example-1
User Emre AYDIN
by
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