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How many years will it take for 8000 to double at a simple interest rate of 6 percent?
Wiki User
∙ 11y ago
6% of 8,000 = 480
Since interest is not compounded, you just keep getting 480 paid once every year.
Mathematically, it takes 8,000/480 = 162/3 years to earn another 8,000. But the
final payment isn't paid until the end of the 17th year. Until that moment, you've
only collected 7,680. Then, at the end of the 17th year, you get the payment
that brings the interest to a total of 8,160.
Note that if the interest had only compounded annually ... you leave the interest in
the account, and at the end of next year, 6% is paid on the total in the account ...
it would double in only 12 years.
Wiki User
∙ 11y ago
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How much interest will be earned on an investment of 8000 at 10 percent simple interest for 3 years?
$2400
1050 4.6 percent 2 years simple interest?
It is 1050*(4.6/100)*2
What is the simple interest of a loan for 1000 with 5 percent interest after 5 years?
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
How much interest if you borrow 2000 at a rate of 6 percent for 2 years?
if its simple interest: I = prt = 240 the total money to be returned is 2240
If you have an account with an annual simple interest rate of 2.1 percent. You have a principle of 450.00 calculate your interest and your principle for two years?
18.90 as an interest. and principle wil remain same.
What rate of simple interest is needed for 1000 to double in 3 years?
331/3 percent simple interest will double any amount in 3 years.
How many years will it take 100 to double check if you are simple interest rate is 4?
It will take 25 years for a 100 to double check if you have a simple interest of 4 percent.
What time will be required for a sum of money to double itself at 5 percent simple interest?
20 YEARS
What time will be required for a sum of money to double itself at 5 percent simple interest full disclose?
It will take 20 years.
What is the interest on 600 at 12 percent for 2 years?
Simple interest: 144Compound interest: 152.64
What is the worth of 14100 in 7 years WITH 5 percent interest?
19035 by simple interest
What is the simple interest on a loan of 200 at 8 percent interest for 3 years?
$48
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
What is the simple interest of a loan for 1ooo with 5 percent interest after 3 years?
Simple interest = 1000 * 5/100 * 3 = 150
Years of the world?
About 8 years to double (divide 70 by the interest rate), and presumably another 8 years to double again? This supposes compound interest. For simple interest, 11 years to double and 33 to quadruple.
What is the interest on R528 at 7 percent simple interest over 2 years?
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
What is the simple interest to repay a loan in 3 years at the rate of 9 percent?
You already gave the simple interest - 9 percent. Rethink and ask your question again.
