b) The time it would take for a given sum of money to double at 4% per yearts)simple interest is closest to:1) 30 years2) 25 years3) 20 years4) 10 years

Simple Interest , I = (PTR)/100 Time taken to double the principal amount is 25 years.

Answered: b) The time it would take for a given…

b) The time it would take for a given sum of money to double at 4% per year us) simple interest is closest to: 1) 30 years 2) 25 years 3) 20 years 4) 10 years

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 21P

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Question

b) The time it would take for a given sum of money to double at 4% per year
ts)
simple interest is closest to:
1) 30 years
2) 25 years
3) 20 years
4) 10 years

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