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1 September, 11:53

A new bank customer with $4,500 wants to open a money market account. The bank is offering a

simple interest rate of 1.1%.

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.

+4
Answers (2)
  1. 1 September, 13:37
    0
    Step-by-step explanation:

    a) 1.1/100 x 45000=450x1.1=495

    495x20=$9,900

    b) $4,500+$9,900=$14,400
  2. 1 September, 15:02
    0
    A. 495

    b. 9900

    c. 1400
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Home » Mathematics » A new bank customer with $4,500 wants to open a money market account. The bank is offering a simple interest rate of 1.1%. a. How much interest will the customer earn in 20 years? b. What will the account balance be after 20 years? a.
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