MATH SOLVE

3 months ago

Q:
# You invest $5000 at 8% simple interest paid annually how long will it take for investment to reach $8000

Accepted Solution

A:

Answer:Step-by-step explanation:5000x8%=400You will get $400 annually.8000-5000(the money that you have originally)=3000Therefore, 400x7.5=3000It will take u 7.5years to reach the total of 8000.