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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asked Nov 24, 2021 67.8k views

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?

Mathematics
college

Nishantha asked

by Nishantha

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2 Answers

5 votes

Answer:

12.5

Explanation:

Dan Sabin answered Nov 26, 2021

by Dan Sabin

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3 votes

Answer:

12.5

Explanation:

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

Dan Rigby answered Nov 29, 2021

by Dan Rigby

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