How long will it take $600 to double itself at 12% simple interest?

Answer 1

I=p*r*t
p=600
fv=1200
I=1200-600=600

r=12%=0.12
t=? years
t= 600/(600*0.12)
t=8.33 years

Answer 2

What is this ? I'm confused !

Answer 3

In one year we gain .12(600) or $72 in interest

let the number of years needed to double our 600 to 1200 be t
600 + 72t = 1200
72t = 600
t = 600/72 = 25/3 years or 8 1/3 years