Question

HELWP MWEEEEEEEEEEEEEEE

A new bank customer with ​$
4,000 wants to open a money market account. The bank is offering a simple interest rate of
1.3​%.
a. How much interest will the customer earn in
10 ​years?
b. What will the account balance be after
10 ​years?

:

Answer 1

A = $1,120 B = $5120

Explanation:

1.4/100 = 0.014

0.014 x 4000 = 56

1.4% interest on the $4,000 is $56.

56 x 20 (years) = 1,120

A= $1,120

To get B simply add 1,120 to 4000.

1,120 + 4000 = 5120

B = 5120.

Answer 2

1440 is the answer I think