Question

13. A new bank customer with $5,000 wants to open a money market account. The bank is

offering a simple interest rate of 1.3%.
a. How much interest will the customer earn in 10 years?
b. What will the account balance be after 10 years?
2 POINTS

Answer 1

a) 900 dollars

b) 5900 dollars

Explanation:

The complete question is

A new bank customer with $5,000 wants to open a money market account. The bank is offering a simple interest rate of 1.8%. a. How much interest will the customer earn in 10 years? b. What will the account balance be after 10 years?