document.write( "Question 1193425: How long will it take the sum of $1250 to grow to $10000 if it is invested 12.5% p.a simple interest \n" ); document.write( "

Algebra.Com's Answer #825442 by math_helper(2461) $\"\"$ $\"About$

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document.write( "10000 = 1250(1+0.125t)
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document.write( "7 = 0.125t
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document.write( "t = 7/0.125 =  yrs\r
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document.write( "Side note:\r
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document.write( "A good opportunity to show why compounding interest is so powerful.  If the interest is compounded (even if just once per year), you get this:\r
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document.write( "    years   (less than one third the time of simple interest) \n" );
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