Question

WILL MARK BRAINLIEST
Scenario: In one year, a bank pays 2% interest on a $1,000 deposit. The same year, the bank charges 12% interest on a $1,000 loan. How much profit does the bank make at the end of the year in this scenario? $100 $120 $140 $2,000

Answer 1

ok, we know that the the bank is profiting 12% of the loan, but they need to pay 2%

12%-2% = 10%

10% of profit on a thousand dollar loan.

.10*1000 = $100

The bank profits $100 at the end of the year with a 10% interest rate.

Answer 2

Answer:

100

Explanation:

i just took the test and got it correct