Math, asked by yesseniahardy, 1 year ago

how long will it take for $500 to double at a simple interest rate of 5%

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Answered by nitish3444

It'll take 24 years for your investment to double. If your interest rate is 6%, then 72/6 = 12 years. If you're returning 12%, it'll only take 6 years, since 12*6 = 72.

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