900322539 900322539

10-11-2022
Mathematics

contestada

Big Money Bank has an offer for new customers: if you deposit $5,000 in a savings account, you will earn 6.5% simple interest over the first 10 years.

Question 1
Part A

How much interest will the account earn over this period?

Part B

How much will be in the account after the 10-year period?

Part C

At the Town Savings Bank, a new customer earns $2,950 in simple interest on a $5,000 deposit over the first 10 years. What rate of interest does that bank pay?

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