document.write( "Question 1202792: How long will it take a sum of money to double itself if interest 12(1/2)% per annum \n" ); document.write( "

Algebra.Com's Answer #837908 by greenestamps(13203) $\"\"$ $\"About$

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\n" ); document.write( "Since the reader has posted other similar questions specifying simple interest, I assume this problem is also with simple interest....

\n" ); document.write( "With simple interest, this can be solved using common sense and basic arithmetic; no mathematical formulas are needed.

\n" ); document.write( "With simple interest, 12.5% of the original amount is added each year.
\n" ); document.write( "For the original amount to double, 100% has to be added to the original amount.
\n" ); document.write( "The number of years required to add 100% to the original amount, at 12.5% per year, is 100/12.5 = 8.

\n" ); document.write( "ANSWER: 8 years

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