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2 years ago

Approximately what interest rate to the nearest whole percentage would you need to earn in order to turn $3,500 into $7,000 over

1 answer:

5 0

The interest rate to the nearest whole percentage would you need to earn in order to turn $3,500 into $7,000 over 10 years is 10%

<h3>Simple interest and amount</h3>

The formula for calculating amount is expressed as;

Amount = Principal + Simple interest

Given the following

Amount = $7000

Principal = $3500

time =10 years

Substitute

7000 = 3500 + 3500(R)(10)

3500 = 35000R
R = 3500/35000
R = 0.1

Hence the interest rate to the nearest whole percentage would you need to earn in order to turn $3,500 into $7,000 over 10 years is 10%

learn more on interest rate here: brainly.com/question/25793394

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