ssjdudjdsloe9910 ssjdudjdsloe9910
  • 01-04-2021
  • Mathematics
contestada

A new bank customer with $4000 wants to open a money market account the bank is offering a simple interest rate of 1.5% how much interest with a customer in 20 years

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 05-04-2021

Answer:

$1200

Step-by-step explanation:

Given data

Principal=$4000

Rate=1.5%

Time= 20years

The expression for simple interest is

SI= PRT/100

Substitute

SI= 4000*1.5*20/100

SI=120000/100

SI=$1200

Hence the interest is $1200

Answer Link

Otras preguntas

When nickel combines with fluorine to form nickel (III) fluoride, the charge of the nickel ion is a. Ni1+. c. Ni3+. b. Ni2+. d. Ni4+.
What is 6 divided by 3.45? What is 12 divided by 5.25? What is 24 divided by 10.99?
how many variables should be manipulated in a correctly performed scientific experiment
The length of a rectangle is three times its width its perimeter is 24 cm find its area
what is the correct plural form of elf
In which decade did Martin Luther King, Jr., deliver his "I Have A Dream" speech? A. 1930s B. 1940s C. 1950s D. 1960s
What are the three finger print ridge patterns?
Is the quotient 2.7 divided by 3 greater or less than one
Roundworms have _____ muscle that helps them move. striated circular longitudinal retractor
The wavelength of a wave is the distance between a. two consecutive crests.B. the crest and the following trough.C. the rarefaction and the following compressi