Respuesta :

dooleyr
It'll take 24 years for your investment to double.
If your interest rate is 6%, then 72/6 = 12 years.
If you're returning 12%, it'll only take 6 years, since 12*6 = 72.
ashishdwivedilVT

It will take 20 years to double at a simple interest rate of 5%.

What is Simple Interest?

Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account.

Here, Principal = $ 500

         Amount = 2P = $ 1000

         Interest = $ 500

         Rate = 5% =5/100 = 0.05

We know,

SI = ( P X R X T ) / 100

 500 = 500 X 0.05 X T

  T = 1/0.05

  T = 20 years

Thus, It will take 20 years to double at a simple interest rate of 5%.

Learn more about Simple Interest from:

https://brainly.com/question/22621039

#SPJ2

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