1 answer:
Answer:
25 years
Step-by-step explanation:
Given data
Principal P= $2000
Interest rate r= 6%
FInal amount A=$5,000
The simple interest formula is given as
A=P(1+rt)
substitute and solve for t
5000=2000(1+0.06*t)
5000=2000+120t
5000-2000=120t
3000=120t
t= 3000/120
t= 25 years
Hence, for a simple interest investment, she will be 25 years
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Regards,
ArmyCee:)
