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about how many years would it take for $1000 to become $2000 with an interest rate of 7.2

Q: How many years would it take for 1000 to become 2000 with an interest rate of 7.2?

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If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.

Simple interest = 1000 * 5/100 * 3 = 150

331/3 percent simple interest will double any amount in 3 years.

9.85 years, approx.

He will get 128.95 interest after tax.

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If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.

Total = 1000(1+0.06)4 = 1262.48

$1000 compounded at 10% annually over 86 years would be almost $4,000,000.

$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.

$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.

To find this figure you will have to multiply the interest rate to the initial $1000, and get the total. For each subsequent year, you will need to add the interest accrued from the year before and then multiply that total by the interest rate again. After 7 years, there would be $1445.06 in the account.

If you would have gotten 10% interest, your money would have doubled every 7 years.

1000 years

Total after 2 years = 1000*(1.08)2 = 1000*1.1664 =1166.40 So interest = Total - Inirial capital = 1166.40 -1000 = 166.40

1050*5/100

9% of 1000 is 9*1000/100 = 90. Since it is simple interest, it generates earnings of 90 each year, or 270 in 3 years.

Simple interest = 1000 * 5/100 * 3 = 150