Calculate how long it would take for an investment of R9000 to double if the simple interest rate is 11% per annum.

asked Jan 26, 2023 50.8k views

1 vote

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4 votes

Answer:

9.09 years

Explanation:

Use the simple interest formula

A=P(1+rt)

18000=9000(1+.11*t), solve for t

t = 9.0909

DaleK answered Feb 1, 2023

by DaleK

5.3k points

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