Question

Cuanto tiempo le demorará a juan doblar su depósito de $500.00al 9% de interés simple?

Answer 1

SIMPLE INTREST = P X NX R/100

P= 500 ,N=?, R=9%

AMOUNT WILL ONLY GET DOUBLE WHEN INTREST EQUALS TO DEPOSIT.

SI=500

`on\text{ solving,500=500}\ast9\ast(n)/(100)-\longrightarrow\text{ n=100/9}`

n=100/9

n=11.11

so it will take about 11.11 years

The answer is 11.11 years