SOLUTION: Katy wants to invest $6000 in a savings account that pays 7.1% simple interest. How long will it take for this investment to double in value?

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Question 1135694: Katy wants to invest $6000 in a savings account that pays 7.1% simple interest. How long will it take for this investment to double in value?
Answer by ikleyn(52769) About Me  (Show Source):
You can put this solution on YOUR website!
.
6000 + 0.071*6000*t = 12000


0.071*6000*t = 12000 - 6000


0.071*6000*t = 6000


0.071*t = 1


t = 1%2F0.071 = 14.085 years = 14 years and 1 month.    ANSWER