mandoux
10.11.2020 •
Mathematics
A bank manager wants to encourage new customers to open accounts with principals of at least $3,500. He decides to make a poster advertising a simple interest rate of 3%. What must the principal be if the bank manager also wants to advertise that one can earn $10 the first month? Can the poster correctly say, "Open an account of $3,500 and earn at least $10 interest in 1 month!"?
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Ответ:
simple interest = $10, rate = 4.8%, time = 1 month
amount = $3500, rate = 4.8% and time = 1
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