Question

does doubling the time of an investment double the amount of interest earned? explain with words and an example

Answer 1

Explanation:

Answer 2

Sure it does.
For example U have let out $10,000 at the rate of 10% p.a
Then ur interest for the One year will b = 10,000*10/100*1
= $1000 p.a

If you double the time to Two years = 10,000*10/100*2
then your interest will b
=$2000 p.a
So its double.