Question

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? 20 years 5 years 10 years 2 years

Answer 1

Answer:

It would take 10 years to double the interest.

Step-by-step explanation:

what I did is that I tried using the option of years provided to see if it gives me double of the amount.

so using 10 yrs as my Time (T) and putting that in my solving, it will give me double of my principal.

Hope this helps.

Good luck ✅.