Computers and Technology, 01.08.2019 23:30 davidt64

If the interest rate on a savings account is 0.02%, approximately how much money do you need to keep in this account for 1 year to earn enough inerest to cover a single $9.99 below-minimum-balance fee?

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For the answer to the question above.

The savings rate is 0.02%, then we can easily solve for the amount of money needed to annually generate the amount to cover the $9.99 fee.
We structure the equation as: $9.99 = 0.0002*B, where B is the balance. Dividing to solve for be, we get $49950, if there are choices. Just choose the closest answer.

Answer from: sam9043

ANSWER: $49,950

EXPLANATION: The savings account will need $49,950 to earn enough interest of $9.99 Below-Minimum-Balance Fee. The calculation is simple. Let the total money be P and we have a goal of $9.99. So, multiplying P with 0.02% should give the answer $9.99. Mathematically writing, the equation should be P x 0.02% = $9.99. The next step for solving the equation would be P = $9.99 ÷ 0.0002 which is $49,950.

Answer from: Quest

the answer will be d

Answer from: Quest

okay, so i know we just goofed around in that chat, but ive been like genuinly depressed, like medically depressed for almost 4 years now. i had my first panic attack when i was 8. i woke my mum up and told her i felt like i was in a dream. like i was a goldfish in a bowl, looking at all these things going on around me and feeling . tiny. wort hless. and i now am now 17 y/o. i still feel those emotions daily. life used to go by so quick.like every day i would wake up and just like want to go back to bed cause i always felt like i was in the wrong place. i guess looking back, i was in the wrong state of mind. i took a expensive like nice trip to whyoming with my grandfather and ha ted it. like idk why. i would have loved it now, but i found myself writing in a journal everyday because i would forget what happened the day before, couldnt remember what i ate for like the previous meal. just my memory left me for the week i was there. worst feeling ive ever experienced.

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If the interest rate on a savings account is 0.02%, approximately how much money do you need to keep...

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