anonymous
  • anonymous
NEED HELP PLEASE <3 Mary invested a certain amount of money in a savings account paying 3% interest every year. when she withdrew her money at the end of 3 years, she received 180 in interest. how much money did mary place in the savings account?
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
schrodinger
  • schrodinger
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
Simple interest? Compound interest?
anonymous
  • anonymous
simple
anonymous
  • anonymous
So, P * 0.03 * 3 = 180 => P = 180/(3*0.03) = 180/0.09 = 18000/9 = 2000

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
i still don't understand
anonymous
  • anonymous
Well.....if she invested amount P and earned 3% (0.03 times that amount) per year for 3 years, her total interet amount will be P times 3% times 3. You are asked to find P where she earned $180 in total interest. So, P * 0.03 * 3 = 180 => P = 180/(3*0.03) => P = 180/0.09 => P = 18000/9 = 2000
anonymous
  • anonymous
so she invested $2000
anonymous
  • anonymous
Yes.
anonymous
  • anonymous
thanks :)
anonymous
  • anonymous
A medal is the best way to say thanks rather than type that up. :)
anonymous
  • anonymous
:) kay

Looking for something else?

Not the answer you are looking for? Search for more explanations.