For how long would P1,000,000 have to be invested at 5% simple interest for it to double its value? (Note: Disregarding reinvestments and inflation). Answer in years

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 11EA: How much would you invest today in order to receive $30,000 in each of the following (for further...
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For how long would P1,000,000 have to be invested at 5% simple interest for it to double its value? (Note: Disregarding reinvestments and inflation).

Answer in years 

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