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23 October, 20:21

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

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  1. 23 October, 21:40
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    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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