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Orlov [11]
4 years ago
14

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

Mathematics
2 answers:
valentina_108 [34]4 years ago
8 0
2p=p(1+0.14t),,2=1+0.14t,,1=0.14t,,t==7.14 years or 7 years
umka2103 [35]4 years ago
7 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.
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