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4 years ago

If $14,000 invested at 12% annually simple interest how long does it take to be worth 45,920

Mathematics

2 answers:

Tpy6a [65]4 years ago

3 0

Answer:

It will take about 3.27 years.

Svetlanka [38]4 years ago

3 0

Answer

19 years

Step-by-step explanation:

simple intrest= p*r*t/100 p=principal r= rate t=time

amount of intrest for one year = 14000*12*1/100=1680

check how much money is in between the principal and the amount needed

45920-14000=31920

and divide it by the intrest of one year= 31920/1680

and the answer is the amount of years= 19 yrs

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