A man deposited $800 in his account at the bank which offers 6% simple interest per annum

Question

How much interest would he receive on the $800 after 9 months

How long it take for $800 to increase to $992

Answer 1

800 at simple 6% interest for 9 months = 3/4 year

with no compounding

.06 x 800 = 48

48 x 3/4 = $36 interest after 9 months

992-800= $192 interest

192/48=4

4 x 9 =36 months = 3 years to get $992