leboterry
leboterry leboterry
  • 27-02-2016
  • Mathematics
contestada

how long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9

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olemakpadu
olemakpadu olemakpadu
  • 28-02-2016
Am assuming it is invested at 9% per annum simple interest.

I = PRT/100

T =  100I / PR

P = 10000,   R = 9%,  I = 15400 - 10000 = 5400

T = 100I / PR

T =  100 * 5400 / (10000 * 9) 

T =  6 years.

It would take 6 years.
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