SOLUTION: Solve the following problem. Keep in mind the suggestions we offered in this section.
How long will it take $3,100 to double itself if it is invested at 8% simple interest?
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Question 263888: Solve the following problem. Keep in mind the suggestions we offered in this section.
How long will it take $3,100 to double itself if it is invested at 8% simple interest?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
2p=p+prt
p=3100
r=.08
3100=3100*.08*t
12.5 years
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