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If Paul invests 10,000 at a 9% interest rate how many years will it take for the investment to grow to $20,000 A. 8 years B. 10 years C. 20 years
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2 votes
If Paul invests 10,000 at a 9% interest rate how many years will it take for the investment to grow to $20,000

A. 8 years
B. 10 years
C. 20 years

User Alex Chesters
by
4.8k points

2 Answers

1 vote

Answer:

A.8years

Step-by-step explanation:

Assuming it compounds,

$20000=$10000(1+9/100)^t

t=8.04years≈8years

User DAVID AJAYI
by
5.7k points
3 votes
b is the correct and
User Shreyansh Jogi
by
6.3k points
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