A new bank customer with $4,000 wants to open a money market account. The bank is offering a simple interest rate of 1.4%. a.
How much interest will the customer earn in 20 years? b. What will the account balance be after 20 years? a. The customer will earn $ in interest.
2 answers:
Answer:
A = $1,120 B = $5120
Step-by-step 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:hdhdh
Step-by-step explanation:
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