Taneen has a savings account with a balance of $50,000. Find the balance after 10 years with a simple annual interest rate of 2.40%. $12,000 $50,000 $62,000 $63,382.53

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
icon
Related questions
Question

Taneen has a savings account with a balance of $50,000. Find the balance after 10 years with a simple annual interest rate of 2.40%.

$12,000
$50,000
$62,000
$63,382.53

 

 
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning