Mathematics, 16.12.2020 07:00 AM28

A bank manager wants to encourage new customers to open accounts with principles of at least $2,500. 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 $2,500 and earn at least $10 interest in 1 month!"?

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A bank manager wants to encourage new customers to open accounts with principles of at least $2,500....