Answered

Get comprehensive solutions to your questions with the help of IDNLearn.com's experts. Discover comprehensive answers to your questions from our community of knowledgeable experts.

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.

Sagot :

Flyingcarpet881idn

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.

Orionnrichardsonidn

Answer:hdhdh

Step-by-step explanation:

Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. Your search for answers ends at IDNLearn.com. Thanks for visiting, and we look forward to helping you again soon.