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.

Question

Kiersten Williams

26 March, 02:59

+5

Answers (2)

Know the Answer?

Mckenna Murphy · Answer 1

Step-by-step explanation:

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

495x20=$9,900

b) $4,500+$9,900=$14,400

Paris Price · Answer 2

A. 495

b. 9900

c. 1400

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