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Robertjubabn098go
Answered

How long does it take for 500 000.00 to double at 6% using simple interest
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Sagot :

Catzohayasgo

Answer:

It'll take 24 years for your investment to double. If your interest rate is 6%, then 72/6 = 12 years.

Step-by-step explanation:

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JCubego

Answer:

16.67 units (years)

Step-by-step explanation:

Simple Interest Formula:

[tex]A=P(1=rt)[/tex]

A = 2(P)

= 2 (500000)

= 1 000 000

P = 500 000

r = 0.06

substitute:

[tex]1000000=500000(1+0.06t)[/tex]

[tex]2=1+0.06t\\1=0.06t\\t=16.67[/tex]

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