if 6,200.00 is invested at 12% per annum,how long will it be until it reaches 9,920.00
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Step-by-step explanation:
by simple interest and is 5
simple interest = p*r*n/100
simple interest here is 9920-6200=3720
therefore 3720 = 6200*12*n/100
3720 = 62*12n
3720 = 744n
3720/744= n
n=5 years
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