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3 May, 13:15

Terrance has $100 that he can invest in a savings account. His bank is willing to pay interest to his account at a rate of 0.04. How long will Terrance need to leave the money in the account if he wants to earn $100 in interest, doubling his money? Use the formula t = i/pr

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  1. 3 May, 13:22
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    It will take about 25 years if he does not deposit any money or withdraw
  2. 3 May, 13:43
    0
    T=100: (100*0.04)

    t=25years
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