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Approximately how long will it take $200 to double to $400 when the annual interest rate is 8 1/2?

Approximately how long will it take $200 to double to $400 when the annual interest rate is 8 1/2?
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1 vote
Approximately how long will it take $200 to double to $400 when the annual interest rate is 8 1/2?

User Laughing Vergil
by
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1 Answer

3 votes

Answer:

200/17 years

Explanation:

Simple interest = (principle * time * rate) / 100i

User Bria
by
7.7k points
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