Question 1091947

If you invest $3,900 at a 7.83% simple annual interest rate, approximately how long will it take for you to have a total of $10,000?
<pre>If the interest rate at the end of the year is withdrawn, then it's: 
Time = {{{matrix(1,4, ("10,000"/"3,900" - 1)/.0783, or, 19.9757671, years)}}}
If interest is not withdrawn then the interest would be COMPOUNDED, and less time would be required to reach $10,000.