For it to double its price the price has to be +100% more, and every year you get +2.4%, so you do:
100/2.4≈ 42 years or 41.66666667.. years.
Answer:
5(2 + y)
Step-by-step explanation:
The sum of 2 and y is 2 + y and 5 times this sum is
5(2 + y)
The interest she would pay is $694.40.
<h3>What is simple interest?</h3>
Simple interest rate is the interest that is paid only on the principal portion of a loan. This means that the debtor does not pays interest on the interest rate already accrued.
<h3>What interest does she pay? </h3>
Simple interest = principal x time x interest rate
$6200 x 4 x 0.028 = $694.40.
To learn more about interest, please check: brainly.com/question/26164549