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How long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9
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How long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9

User BizzyBob
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1 Answer

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Am assuming it is invested at 9% per annum simple interest.

I = PRT/100

T = 100I / PR

P = 10000, R = 9%, I = 15400 - 10000 = 5400

T = 100I / PR

T = 100 * 5400 / (10000 * 9)

T = 6 years.

It would take 6 years.
User Gntem
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8.2k points
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