On a deposit of $100 at a simple interest rate of 20%, how many years would it take to double your money? Hint: How much interest do you earn in one year? What about the next year? How many years to earn $100 in interest?

Question

Mathematics

Colton Meyers

11 December, 20:37

On a deposit of $100 at a simple interest rate of 20%, how many years would it take to double your money? Hint: How much interest do you earn in one year? What about the next year? How many years to earn $100 in interest?

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Answers (1)

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Jadyn Brock · Answer 1

Answer: 5Your explanation

You want to take the 20% and think of it as a number. Then you want to go by 20's till you get your number. Or do 20x5 to get 100.

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