Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

How many years will it take for $3,000 to double at a simple interest rate of 2%?
A. 2 years
B. 5 years
C. 10 years
D. 50 years

Sagot :

Answer:

3000=3000*0.02t

3000/60=t

t=50 yrs

Step-by-step explanation:

D because it makes sense you can’t double 3 dollars in 2 years with only 2 years