about how many years would it take for $1000 to become $2000 with an interest rate of 7.2
10 years. Compound interest would take 7 years.
You will have $11576.25
67.57
Simple interest: 144Compound interest: 152.64
about how many years would it take for $1000 to become $2000 with an interest rate of 7.2
10 years. Compound interest would take 7 years.
You will have $11576.25
177.50
10 years
67.57
That would depend on the original principal (the amount you borrowed) and how they compute interest.
If the interest rate was eight percent, it would take about 9 years to double your principle.
After 6 years at a 30 percent interest rate, the total amount accumulated would be 1.30 times the original amount. This increase accounts for both the original value and the interest earned over the 6 years.
The total interest would be 73606.07 dollars, approx.
He would make 250*(5.4/100)*5 = 67.57
It is 41575.40