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24 August, 04:04

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

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Answers (2)
  1. 24 August, 04:07
    0
    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
  2. 24 August, 04:15
    0
    It will take about 3.27 years.
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