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You deposit $200 in an account that earns 5% simple interest. How long will it be before the total amount is $400?

User Gioia
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2 Answers

6 votes
40 years I believe it will be
User Thomas Renger
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8.1k points
4 votes
the formula is I=Prt so

400=200*5%*t
400=10*t
-------------
10 10
40=t
User Yavar
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