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23-01-2018
Mathematics

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A new bank customer with $4,500 wants to open a money market account. The bank is offering a simple interest rate of 1.5%. (A). How much interest will the customer earn in 10 years? (B). What will the account balance be after 10 years?

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Аноним Аноним

23-01-2018

I = PRT /100

= 4500*1.5*10/100 = $675
Interest = $675 after 10 years

(b) Account balance will be $5175

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