rickjachin rickjachin
  • 12-01-2021
  • Mathematics
contestada

How many years will it take for $20 to grow to $100 if the simple interest is 4% annually

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lacampanella
lacampanella lacampanella
  • 12-01-2021

Answer:

100 years

Step-by-step explanation:

Simple interest means 4% on the 20$ only and forever.

100-20=80 dollars.

4% of 20 is 0.80

80/0.80 = 100

It will take 100 years

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Andouhaoyu0704
Andouhaoyu0704 Andouhaoyu0704
  • 12-01-2021

Answer:

It takes 41 years for $20 to grow to $99.86 and if you rounded that up, it would be $100 or if you want it to surpass $100 it would take 42 years turning $20 to $103.85

(Edit: I'm wrong go with the guy on top)

Answer Link

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