Ask Question
13 February, 08:43

How long does it take $450 to double at simple interest rate of 14%

+1
Answers (1)
  1. 13 February, 11:42
    0
    A = P (1+rt)

    A (Future) = 450 (2) = 900

    P (Principal) = 450

    R (Rate) = 14% =.14

    T (Time) = Unknown

    Create the equation:

    900=450 (1+.14t)

    Distribute the 450:

    900=450 + 450 (.14t)

    Multiply the 450 (.14t)

    900=450 + 63t

    Subtract the 450:

    450 = 63t

    Divide by 63:

    t=7.142857

    Answer:

    It will take 7.1 years.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How long does it take $450 to double at simple interest rate of 14% ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers