Question

how long will it take 10 000.00 to grow to 15 400.00 if it is invested at 9

Answer 1

Am assuming it is invested at 9% per annum simple interest.

I = PRT/100

T =  100I / PR

P = 10000,   R = 9%,  I = 15400 - 10000 = 5400

T = 100I / PR

T =  100 * 5400 / (10000 * 9) 

T =  6 years.

It would take 6 years.