travwebster travwebster

12-01-2022
Mathematics

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At what simple interest rate will an amount of money gain 50% of the principal in 4 years

Respuesta :

12-01-2022

Answer:

Simple interest only pays interest on the original amount. So, if you want your amount to grow by 50% over 4 years, you will need it to grow by 1/4 of that each year. Just divide 50% by 4 to get 12.5%.

Step-by-step explanation:

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