With a simple interest rate of 12%, how much will an investment of $20,000 be worth in 10 years

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asked Aug 23, 2021 29.4k views

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Paul Miller · Answer 1 · 2021-08-26T02:27:00+0000

Answer:

$24,000

Explanation:

If each year you get 12% of interest 20,000 dollars x 0.12 = 1 year worth of interest or $2400 then if its over a 10 year span it would be $2,400 x 10 (amount of years) = $24,000

With a simple interest rate of 12%, how much will an investment of $20,000 be worth in 10 years

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