How long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9

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asked Aug 27, 2017 183k views

1 Answer

Gntem · Answer 1 · 2017-09-02T04:14:01+0000

Am assuming it is invested at 9% per annum simple interest.

I = PRT/100

T = 100I / PR

P = 10000, R = 9%, I = 15400 - 10000 = 5400

T = 100I / PR

T = 100 * 5400 / (10000 * 9)

T = 6 years.

It would take 6 years.

How long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9

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