Math, asked by florentinaferrer0218, 9 days ago

How long will it take your deposit of 8,000 to earns as much as the deposit, if it is invested at 6 1/4% simple interest?

Answers

Answered by abhi081088

1

Answer:

16 years

Step-by-step explanation:

Principal = 8000

Interest = 8000

Rate of interest = 6.25%

Time = ?

Using the formula ,

I = P*R*T /100

8000 = (8000 * 6.25* T)/100

T = 16 years

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