gangonem
gangonem gangonem
  • 11-03-2017
  • Mathematics
contestada

How many years will it take for $2000 to double at a simple interest rate of 8%? Explain how you found your answer.

Respuesta :

tifanyeldridge2
tifanyeldridge2 tifanyeldridge2
  • 11-03-2017
it will take 12.5 years (12 years and 6 month)
how?

4000=2000(1+.08t)
4000= 2000+2000(.08t)
4000=2000+160t
2000=160t
12.5=t
Answer Link

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