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12345 [234]
2 years ago
11

A new bank customer with ​$2,000 wants to open a money market account. The bank is offering a simple interest rate of ​%1.1a. Ho

w much interest will the customer earn in 10 ​years? b. What will the account balance be after 10 ​years?
Mathematics
1 answer:
Goshia [24]2 years ago
5 0

Answer:

$2220

Step-by-step explanation:

Step one

Given data

Principal= $2000

rate= 1.1%= 0.011

time= 10 years

<u>Required</u>

<u>The final amount A</u>

Step two;

For simple interest, the final amount is given as

A=P(1+rt)

substitute

A=2000(1+0.011*10)

A=2000(1+0.11)

A=2000(1.11)

A=2220

$2220

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URGENT WILL GIVE YOU 100 POINTS PLEASE ANSWER CORRECTLY
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Answer:

1. x = 18.4

2. x = -1.25

3. x = \frac{5}{12}

4. x = 12.3

5. x = 6.4

6. z = 5.8

7. x = \frac{1}{12}

8. x = -\frac{1}{4}

9. x = \frac{1}{3}

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x = 18.4

2. x + 2.25 = 1 (subtract 2.25 from each side)

x = -1.25

3. -\frac{1}{3} = x - \frac{3}{4} (add \frac{3}{4} to each side)

\frac{3}{4} - \frac{1}{3}  = x (multiply \frac{3}{4} by \frac{3}{3} and \frac{1}{3} by \frac{4}{4} to get a common denominator)

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