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Simple interest is given by the formula A P+Prt. Where A is the balance of the
account after t years, and P is the starting principal invested at an annual percentage rate
of r, expressed as a decimal.
Bill is investing $26,000 into a savings account that pays 2.6% simple interest. How long will
it take for this investment to double in value?
It will take
Round your answer to the nearest tenth.
years for this investment to double in value.
Sagot :
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