Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
AGummiBear55
Group Title
PLEASE HELP!! Madison currently has a balance of $5,503.51 in an account earning simple interest. Nineteen years ago she opened the account with an initial deposit of $3,196. What is the interest rate on the account?
 one year ago
 one year ago
AGummiBear55 Group Title
PLEASE HELP!! Madison currently has a balance of $5,503.51 in an account earning simple interest. Nineteen years ago she opened the account with an initial deposit of $3,196. What is the interest rate on the account?
 one year ago
 one year ago

This Question is Closed

AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
The answer is 9.1%, correct? That's all I need to know; if the interest rate is 9.1%.
 one year ago

InspyR4D Group TitleBest ResponseYou've already chosen the best response.0
so you need to do 3196 multiplied by the interest rate (Let's call it C). 3196 x C^19 = 5503.51 C^19 = 1.72199937422 c= 1.02%
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.