SOLUTION: Mary deposited $5500 in an account earnings 5.5 % interest. How long will it take for her investment to earn $205 in interest? Round to the nearest day.
I would like to know ho
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I would like to know ho
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Question 911280: Mary deposited $5500 in an account earnings 5.5 % interest. How long will it take for her investment to earn $205 in interest? Round to the nearest day.
I would like to know how to solve this equation.
Thank you! Found 2 solutions by ewatrrr, stanbon:Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! Mary deposited $5500 in an account earnings 5.5 % interest. How long will it take for her investment to earn $205 in interest? Round to the nearest day.
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Interest = P*r*t
205 = 5500*0.055*t
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t = 0.6777 years
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t = 0.6777*365 = 247.35 days
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Cheers,
Stan H.
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