Advertising A bank manager wants to encourage new customers to open accounts with principals of at least $3,000. 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 $3,000 and earn at least $10 interest in 1
month!"?
The principal needs to be $ to earn $10 in interest the first month.
(Round to the nearest dollar as needed.)