Question

$2,000 is deposited into a savings account that receives 4% annual interest . How long will it take for the amount of money in the account to double?

Answer 1

The answer would be 25 years is what it would take for it to double 2000x.04=80 . The interest would add up to 80 for 1 year. Multiple 80 by 25 and you get 2000.