SOLUTION: Ann put her $1,450 of savings into a bank account for 5 years. She will earn 2.0% interest on the money. How much interest will Ann earn during those 5 years?

Question 1206475: Ann put her $1,450 of savings into a bank account for 5 years. She will earn 2.0% interest on the money. How much interest will Ann earn during those 5 years?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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To solve the problem correctly (in a right way), we should know if the account is a simple interest or a compound interest.

The calculations methodologies are different in these cases, leading to different answers.

So, your clarification is needed in order for the meaning of the problem be determined.

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