barris77 barris77
  • 16-11-2019
  • Mathematics
contestada

If $14,000 invested at 12% annually simple interest how long does it take to be worth 45,920

Respuesta :

airlovebelavia
airlovebelavia airlovebelavia
  • 16-11-2019

Answer:

It will take about 3.27 years.

Answer Link
austinaloysius2003
austinaloysius2003 austinaloysius2003
  • 16-11-2019

Answer

19 years

Step-by-step explanation:

as

simple intrest= p*r*t/100 p=principal r= rate t=time

amount of intrest for one year = 14000*12*1/100=1680

check how much money is in between the principal and the amount needed

45920-14000=31920

and divide it by the intrest of one year= 31920/1680

and the answer is the amount of years= 19 yrs

Answer Link

Otras preguntas

What percent of women considered themselves feminists in 2013?
Your high beams headlights illuminate the road for high many feet? A. 150 B. 450 C.650
Elements within the requirements listing tables that should be reviewed annually under the internal control program will include, as a minimum
Identify the two most important ethical issues surrounding organ transplantation.
Please help!! Which pair of statements correctly compares the two data sets? A. The difference of the means is 1. This value is less than half of the mean absol
What was the significance of hebrew monotheism for the future of western civilisation?
is " avant Jesus-Christ" equivalent of AD in french
Describe the relationship that existed between the dutch and the american indians living in north america
solution for dy/dx+xsin 2y=x^3 cos^2y
The transition between wakefulness and sleep is marked by the appearance of ________ waves in the sleep record.