SOLUTION: An investment pays simple interest, and quadruples in 12 years. What is the interest rate?
Algebra.Com
Question 856827: An investment pays simple interest, and quadruples in 12 years. What is the interest rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Let Principal be x
4x in 12 years so interest is 3x
SI = P * N * R
3x= x*12*R
3/12 = R
1/4 = R
25%
RELATED QUESTIONS
An investment pays simple interest, and quadruples in 13 years. What is the interest... (answered by Theo)
An investment pays simple interest, and triples in 13 years. What is the interest rate?
(answered by ikleyn)
An investment pays simple interest, and triples in 13 years. What is the interest rate?... (answered by ikleyn)
An investment of $18000 earned $10800 interest in 5 years.
What was the simple interest (answered by ikleyn)
Braun invested R8350 in an account that pays simple interest.AFter six years,the... (answered by ikleyn)
An investment with an interest compounded continuously doubled itself in 12 years. What... (answered by Theo)
If a $55,000 original investment earns simple interest for 3 years, and is worth $65,000, (answered by ewatrrr)
An investment with interest compounded continuously doubled itself in 10 years. What is... (answered by josgarithmetic)
An investment of $1,000 pays 9% annual interest, compounded semiannually. What is the... (answered by lynnlo)