Question

Please someone help me i dont know the answer

Answer 1

Answer:

31 yrs

Step-by-step explanation:

Answer 2

Answer: 33 years

Step-by-step explanation:

Because 3% divided by a thousand is 0.03.

We can multiply that by the amount to get the total obtained by year.

0.03 x 12000 = 360

Now 12000 ÷ 360 = 33.3333...

So, 33 years.

We can also use the simple interest formula:

I = prt

I = interest

P = investment

R = interest rate

T = time

24000 = (12000) x (0.03) x T

T = 66.67

It would take 66 years for the interests gaining to reach 24000$, BUT we had 12000$ already, so if we divide 66.67 ÷ 2 = 33.33..

In 33 years we would have 12000$ + the main 12000$ so around 24000$ (should be more than 24k)