AgustinJ23019 AgustinJ23019
  • 25-10-2022
  • Mathematics
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Chloe deposits $2,000 in a money market account. The bank offers a simple interest rate of 1.2%. How much internet she earn in 10 years?

Respuesta :

EmahY241824 EmahY241824
  • 25-10-2022

Given data:

deposits = $2,000

simple interest rate =1.2%

time =10 years

The formula to find the amount is,

[tex]A=\frac{\text{p}\cdot\text{n}\cdot\text{r}}{100}[/tex][tex]\begin{gathered} A=\frac{2000\cdot10\cdot1.2}{100} \\ A=\frac{24000}{100} \\ A=\text{ 240} \end{gathered}[/tex]The intrest she earn in 10 years is $240.

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