SOLUTION: Kate invested $3500 at a 5% simple interest rate. How many years will it take for the original amount of money to double?
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Question 570736: Kate invested $3500 at a 5% simple interest rate. How many years will it take for the original amount of money to double?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
At 5% interest $3500 earns
$175 annually
Let = number of years it takes to double money
It will take 20 yrs to double the $3500
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