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Tran invests $15,000 in a savings account that pays 4% simple interest. About how many years will it take for the account to double at this interest rate?

Tran invests $15,000 in a savings account that pays 4% simple interest. About how many years will it take for the account to double at this interest rate?
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Tran invests $15,000 in a savings account that pays 4% simple interest. About how many years will it take for the account to double at this interest rate?

asked
User Rola
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7.8k points

1 Answer

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~ 18 years.
Hope this helps.
answered
User Yoannes Geissler
by
8.4k points
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