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

how were north american colonies all similar in the 1700s?
What are the functions of receptors in our body? Think of a situation where receptors do not work properly. What problems are likely to arise?
What is the amplitude of y=1/2 sin2x
What is the least common denominator for 5/6 and 3/8. 3/4 and 6/7
Simplify the expressions: cot 0 sec 0 A. Sin0 B. Csc0 C. Cos0 D. Cos* 0
Mini-Project: Cents and the Central Limit Theorem 1. Collect a sample of at least 50 pennies by setting aside all the pennies you receive in change for severa
The function of the eardrum in the middle ear is to
how do you write 4540 million in standard form?
Why is sodium sulphate hemihydrate called as "Plaster of Paris"?
What is the amplitude of y=1/2 sin2x