Businesses deposit large sums of money into bank accounts. imagine an account with 10 million
dollars in it.
a. how much would the account earn in one year of simple interest at a rate of 5.12%?

The account will earn in one year the amount of $10,512,000

Step-by-step explanation:

Given as :

The principal in the account = $10,000,000

The rate of interest = 5.12% at simple interest

The time period = 1 years

Let The amount that account earn after 1 year = $A

From Simple interest method

Simple interest = S.I =

or, S.I =

or, S.I =

or, S.I = $512,000

So, Simple interest = S.I = $512,000

Now, Amount = Principal + Interest

I.e A =  $10,000,000 + $512,000

Or, A = $10,512,000

So, Amount = A = $10,512,000

Hence The account will earn in one year the amount of $10,512,000 Answer

i used to know but i learned it a long time ago sorry

step-by-step explanation: