Question

Samantha wants to invest $6800 in a savings account that pays 6% simple interest. How long will it take for

this investment to double in value? Round your answer to the nearest tenth.
Answer:
years

Answer 1

16.67 years.

Explanation:

Samantha wants to invest $6800 in a savings account that pays 6% simple interest.

Let after y years the amount will be double in value.

So, using the formula of simple interest we can write

`2 * 6800 = 6800(1 + (6* y)/(100))`

⇒
`2 = 1 + (6y)/(100)`

⇒ 6y = 100

⇒ y = 16.67 years.

Therefore, after 16.67 years the amount will become double in value. (Answer)

Answer 2

Therefore ,it will take 16.67 year .

Step-by-step explanation:est $ 6800

Samantha wants to invest $ 6800 in a saving account that pays 6% simple interest .

Let it will be take x year

Principle =$6800

Interest = $ 6800

Rate of interest = 6%

Time = x(let)

According To Problem

6800=
`(6800* x* 6)/(100)`

⇔x =
`(100)/(6)` = 16.67 year

Therefore ,it will take 16.67 year .