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You have been assigned the job of doubling an investment by putting it in an account that earns 8% simple interest annually. About how many years will it take for this to happen?
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4 votes
You have been assigned the job of doubling an investment by putting it in an account that earns 8% simple interest annually. About how many years will it take for this to happen?

User Nishantha
by
6.6k points

2 Answers

5 votes

Answer:

12.5

Explanation:

User Dan Sabin
by
6.9k points
3 votes

Answer:

12.5

Explanation:

100 ÷ 8 = 12.5, so it'll take 12.5 years to double

User Dan Rigby
by
8.4k points
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