SOLUTION: sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?

Question 754768: sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?
------
A(t) = P(1+rt)
-------------------------
Ans: (1+.08t) = 2
0.08t = 1
t = 1/0.08
t = 100/8
t = 12.5 years
====================
Cheers,
Stan H.

RELATED QUESTIONS
Investing. Do Xuan Nam is going to invest $1000 at a simple interest rate of 4%. How long (answered by stanbon)

Crystal has $750 to invest at 8% annual interest compounded continuously. How long will... (answered by Shin123)

How long will it take to triple your money at a nominal interest rate j1 = 12% if simple (answered by Theo)

How long will it take to triple your money at a nominal interest rate j1 = 12% if simple (answered by Alan3354)

A man intends to invest $1,000 at simple interest. Solve the formula A = p + prt for t... (answered by ewatrrr)

How long will it take to have an amount of $6,600 on an investment of %5,000 at 8% simple (answered by rfer)

how long will it take for $6500 to double at a simple interest rate of... (answered by pie90010)

How long will it take for an investment to double at 3% a year. Simple interest rate. ( I (answered by Fombitz)