Does doubling the time of an investment double the amount of interest earned? explain with words and an example

Question

Mathematics

Rashad Ford

4 May, 19:38

Does doubling the time of an investment double the amount of interest earned? explain with words and an example

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Answers (1)

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Sienna Mcneil · Answer 1

Sure it does.

For example U have let out $10,000 at the rate of 10% p. a

Then ur interest for the One year will b = 10,000*10/100*1

= $1000 p. a

If you double the time to Two years = 10,000*10/100*2

then your interest will b

=$2000 p. a

So its double.