SOLUTION: how long it take an investment to quadruple in value if it earns 4% simple interest per year?
Algebra.Com
Question 841433: how long it take an investment to quadruple in value if it earns 4% simple interest per year?
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
how long it take an investment to quadruple in value if it earns 4% simple interest per year?
A = P(1 + rt)
4P = P(1 + rt)
4P = P(1 + 0.04t)
4P/P = 1 + 0.04t
4 = 1 + 0.04t
4-1 = 0.04t
3 = 0.04t
0.04t = 3
t = 3/0.04
t = 75
It will take 75 years for the investment to quadruple.
RELATED QUESTIONS
A principal earns 8.5% per year simple interest. How long will it take for the future... (answered by Boreal)
how long will it take for an investment to double if it earns 6.25% interest per year... (answered by mananth)
How long would it take to triple an investment at simple interest with a rate of 4.5% per (answered by stanbon)
How long will it take for an investment of $1000 to double in value if the interest rate... (answered by robertb)
If $7000 is invested at an interest rate of 6.5% per year, compounded monthly, how long... (answered by Alan3354)
How long it will take for an investment of 2000 dollars to double in value if the... (answered by stanbon)
How long it will take for an investment of 2000 dollars to double in value if the... (answered by graphmatics,MathTherapy)
Susan invests R45 000 at a simple interest rate of 6% per year. Two years later, she adds (answered by )
How long will it take an investment of $1,000 to double if the investment earns interest... (answered by mananth)