QuestionCalculate the time (in years) for R7 520 to grow to R9 841,80 at a simple interest rate of $9,5 \%$. Options: a. 0,33 b. 13,78 c. 2,48 d. 3,25.

Studdy Solution
Calculate the time it took for the investment to reach the final amount.
$$Time = \frac{R2,321.80}{(R7,520 \\times0.095)} =3.25\, years$$The investment will reach R,841.80 in3.25 years.