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11 November, 10:01

Bill Roe visited his local bank to see how long it will take for $1,000 to amount to $1,900 at a simple interest rate of 12 1/2 percent. Could you provide Bill with the solution to his problem in years?

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  1. 11 November, 12:14
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    T = ((1,900:1,000) - 1) : 0.125

    T=7.2 years
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