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

User AlexanderRD
by
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1 Answer

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

User DaleK
by
7.7k points
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