Question 1207038
simple interest formula is i = p * r * t
p = 550
r = .083 per year.
at simple interest, this becomes .083 per year / 12 = .0069166667 per month.


if you want to double your money, then i must be equal to 550.
formula becomes 550 = 550 * .0069166667 * t.
solve for t to get t = 550 / (550 * ,0069166667) = 144.5783133 months.


your closest selection to that is 145 months.
that's your solution.