Question

A bank manager wants to encourage new customers to open accounts with initial deposits of at least 3,000. He has posters made for the promotion. The manager wants to add the sentence "Open an account with $3,000 and earn at least $120 interest each year!" to the poster. Do you agree? Explain

Answer 1

I’m not sure if I agree however if you put $3000 in the bank account that same bank account earns 4% interest on your total balance a year so in the real world yes that’s a good idea if you have resting money in your bank account and it earns 4% interest every year that’s incredible