zclopez918 zclopez918
  • 23-05-2021
  • Mathematics
contestada

How long will it take $10,000 to double at 11% simple interest? (Round to the nearest year)

Respuesta :

sreedevi102
sreedevi102 sreedevi102
  • 23-05-2021

Answer:

[tex]I =\frac{P*R*T}{100} = \frac{10000 * 11 * T}{100} = 1100T[/tex]

Given A =20000

[tex]Amount = Interest + Principal\\20000 = 1100T + 10000\\20000 - 10000 = 1100T\\\\T= \frac{10000}{1100} = \frac{100}{11} = 9.09 years[/tex]

T =9years

Answer Link

Otras preguntas

guys...please...answer​
PLEASEEEE HELPPPPPPP!!
The Declaration on Liberated Europe stated that?
PLs HeLp!!! BRAINLIEST! How did new theories and inventions of the Scientific Revolution impact religion and the popularity of democracy?
The elements least likely to form bonds are found in which group? 15, 16, 17, 18
Rethinking Youth Sports to Prevent Kids' Head Injuries by Representative Betty McCollum
What is the energy required to go from a solid to a liquid called? A. The latent heat of fusion B. The thermal energy of a substance C. The latent heat of vapor
Nhich was a belief of the early Democratic Republican Party? O The United States should have a conservative foreign policy. O The United States should not take
vanhoe Company reported the following results for the year ended December 31, 2021, its first year of operations: 2021 Income (per books before income taxes)$
How do you convert a rational exponent into a radical? Use proper terminology (numerator, denominator, index, radicand, power).