If $14,000 invested at 12% annually simple interest how long does it take to be worth 45,920

Answer

19 years

Step-by-step explanation:

as

simple intrest = p*r*t/100 p=principal r = rate t=time

amount of intrest for one year = 14000*12*1/100=1680

check how much money is in between the principal and the amount needed

45920-14000=31920

and divide it by the intrest of one year = 31920/1680

and the answer is the amount of years = 19 yrs

It will take about 3.27 years.