heyitzme heyitzme
  • 13-01-2017
  • Mathematics
contestada

How many years will it take for $4000 to double at a simple interest rate at 5%

Respuesta :

lexylibrojo
lexylibrojo lexylibrojo
  • 13-01-2017
annual interest = .05(4000) = 200 
to double, you need another $4000 

number of years = 4000/200 = 20 

it will take 20 years 

to check if you are right you would...
Check:
simple interest on $4000 for 20 years at 5% 
= .05(20)(4000) = 4000 
the amount = what we had + new amount 
= 4000 + 4000 = 8000 which is double what we started with 

So the answer would be it took 20 years.
Answer Link

Otras preguntas

is conflicted a antonym for ulterior
Which factor contributed to the Red Scare in the United States during the 1920s? a. Germany's attacks on United States cargo ships b. the radical nature of th
Julian jogs 2 kilometers east, 4 kilometers north, and then 7 kilometers west. How far is Julian from his starting position, to the nearest tenth of a kilomete
what is the tone of conscientious objector
y = 4n – 3d n = 2 d = 5 (b) Work out the value of y
Which of these is the female reproductive cell?
Which was a Union or Northern soldier during the Civil War? A. yankee B. redcoat C. war hawk D. patriot
is 0.9 less than greater than or equal to 0.09
According to the reading which of the following events was a result of the Little Ice Age
A ________ is a membrane-bound sac found in cells that contains digestive enzymes which break down complex molecules or structures