Calculate how long it will take for an investment of $\mathrm{R} 4000$ at $3 \%$ per annum simple interest to earn an interest of $\mathrm{R} 840$.

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Edzai Zvobwo · Answer 1 · 2022-12-05T05:24:51+0000

If an investment of R4000 earns R840 in simple interest at 3% per annum, then the amount of time it takes for the investment to earn this interest is $840 / (4000 * 0.03) = 840 / 120 = 7$ years.

Therefore, it will take 7 years for an investment of R4000 at 3% per annum simple interest to earn an interest of R840.

Calculate how long it will take for an investment of \(\mathrm{R} 4000\) at \(3 \%\) per annum simple interest to earn an interest of \(\mathrm{R} 840\).

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