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You deposit $200 in an account that earns 5% simple interest. How long will it be before the total amount is $400?

You deposit $200 in an account that earns 5% simple interest. How long will it be before the total amount is $400?
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You deposit $200 in an account that earns 5% simple interest. How long will it be before the total amount is $400?

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User Gioia
by
7.2k points

2 Answers

6 votes
40 years I believe it will be
answered
User Thomas Renger
by
8.1k points
4 votes
the formula is I=Prt so

400=200*5%*t
400=10*t
-------------
10 10
40=t
answered
User Yavar
by
7.9k points
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