Question

In how much time will a sum of money double itself if invested at 8 simple interest per annum?​

Answer 1

Answer:

You simply divide the annual interest payment into the principle and you'll get the answer. Simple interest only counts each amount that is accrued, and does not reinvest it. So assuming an annual interest payment of 8% and a $100 investment - we just have to divide 100 by 8, which gives us an answer of 12.5 years.

Step-by-step explanation:

Answer 2

Answer:

I have put an attachment