SOLUTION: sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 754768: sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
sue is going to invest some money at simple interest at the rate of 8%. how long will it take for the investment to double?
------
A(t) = P(1+rt)
-------------------------
Ans: (1+.08t) = 2
0.08t = 1
t = 1/0.08
t = 100/8
t = 12.5 years
====================
Cheers,
Stan H.