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A new bank customer with ​$4,000 wants to open a money market account. The bank is offering a simple interest rate of 1.2​%.

a. How much interest will the customer earn in 30 ​years?
b. What will the account balance be after 30 ​years?

Respuesta :

Naseeem88

Answer:

Interest: $1440

Total Account Balance: $5440

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 1.2%/100 = 0.012 per year,

then, solving our equation

I = 4000 × 0.012 × 30 = 1440

I = $ 1,440.00

The simple interest accumulated

on a principal of $ 4,000.00

at a rate of 1.2% per year

for 30 years is $ 1,440.00.

sashellsiders

Answer:

The answer is 1,440 (sorry if it's wrong)

Explanation:  

You multiply 4,000 by 1.8% which u will get 72 then multiply 72 by 20 and then that will get you 1,440.

Credit: https://brainly.com/question/21029884

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