Respuesta :
You will find 3% of 550 and get 16.5. That times 10 is 165. you add 165 and 550 to get 715. She will have $715 in her account in 10 years
The total amount in Mollie's saving account after the 10 years with the simple interest rate is $7150.
What is simple interest?
Simple interest is the amount charged on the principal amount with a fixed rate of interest for a time period. Simple interest calculated only on the principal amount.
The formula for the simple interest can be given as,
[tex]I=\dfrac{PRT}{100}[/tex]
Here, (I) is the interest amount on the principal amount of (P) with the rate of (r) in the time period of (t).
The principal amount in the Mollie's account is $550. As the rate of interest is 3% and the time period is 10 years. Thus, put the values in the above formula as,
[tex]I=\dfrac{550\times3\times10}{100}\\I=165[/tex]
The total amount in her account will be,
[tex]A=550+165\\A=715[/tex]
Thus, the total amount in Mollie's saving account after the 10 years with the simple interest rate is $7150.
Learn more about the simple interest here;
https://brainly.com/question/2294792
