SOLUTION: Braun invested a certain sum of money at 8% p.a. simple interest for 't' years. At the end of 't' years, Braun got back 4 times his original investment. What is the value of t?
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Question 1072451: Braun invested a certain sum of money at 8% p.a. simple interest for 't' years. At the end of 't' years, Braun got back 4 times his original investment. What is the value of t?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Let n be the amount Braun invested. At the end, he has 4 times his original investment. So:
4n=.08t
t=4/.08
t=50 years before Braun gets back 4x his original investment. ☺☺☺☺
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