SOLUTION: How long will it take $800 to double itself at 9% simple interest?
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Question 901864: How long will it take $800 to double itself at 9% simple interest?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How long will it take $800 to double itself at 9% simple interest?
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A(t) = P(1 + rt)
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Solve:: 1+rt = 2
1+ 0.09t = 2
0.09t = 1
t = 100/9
t = 11.11 years
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Cheers,
Stan H.
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