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?

Answer 1

Answer: 5

Your explanation

You want to take the 20% and think of it as a number. Then you want to go by 20's till you get your number. Or do 20x5 to get 100.

-Edge