SOLUTION: Mandy places all her money in a savings account that has a 3.5% interest rate for 10 years. If her total deposit is $568, how much interest will she earn? Show all work needed to s
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Question 1205531: Mandy places all her money in a savings account that has a 3.5% interest rate for 10 years. If her total deposit is $568, how much interest will she earn? Show all work needed to solve this problem using proportions.
Found 2 solutions by josgarithmetic, greenestamps:
Answer by josgarithmetic(39617) (Show Source): You can put this solution on YOUR website!
Yearly compounding?
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!
(1) The problem needs to specify simple interest or compound interest; and if compound interest it needs to specify the compounding frequency.
(2) I don't see any way that proportions can be used to solve the problem.
Re-post your question with all required information.
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