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A new bank customer with $3,000 wants to open a money market account. The bank is offering a simple interest rate of 1.1%. What will be the account balance after 20 years? A: $3…

A new bank customer with $3,000 wants to open a money market account. The bank is offering a simple interest rate of 1.1%. What will be the account balance after 20 years? A: $3…
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A new bank customer with $3,000 wants to open a money market account. The bank is offering a simple interest rate of 1.1%. What will be the account balance after 20 years?

A: $3,600
B: $3,400
C: $3,660
D: $4,000

User Abouasy
by
8.2k points

1 Answer

1 vote
C: $3,660 is the correct answer
User XtianGIS
by
7.4k points
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