Answer to Question #201113 in Financial Math for sojib

Question #201113

You have Tk. 1,00,000 to invest. If you can earn 9% interest, about how long does it take for

your Tk. 1,00,000 investment to grow to Tk. 2,00,000?

Expert's answer

"2,00,000-1,00,000=1,00,000\\times 0.09 \\times t \\\\\n\n1,00,000=9,000t \\\\\n\nt = \\frac{1,00,000}{9,000}=11.11 \\; years"

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