Colin invests £2350 into a savings account. The bank gives 4.2% compound interest for the first 4 years and 4.9% thereafter. How
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Now, recall that I = Prt.
now, half of the original principal is just P/2, so, how many years will it take Jim to get in interest, an amount that is half of what he put in.
now.... neverminding P amount, we can say... that say if P = 2, then I = 1, because we want I to be half of P, and when that happens, every $2 returned $1 in interest with a 10% simple interest, what year is it?
now, half of the original principal is just P/2, so, how many years will it take Jim to get in interest, an amount that is half of what he put in.
now.... neverminding P amount, we can say... that say if P = 2, then I = 1, because we want I to be half of P, and when that happens, every $2 returned $1 in interest with a 10% simple interest, what year is it?