Question

If the simple interest on 7000 for 8 years is 4480 whats the interest rate

Answer 1

Solving our equation
r = (1/8)((7000/4480) - 1) = 0.0703125
r = 0.0703125
converting r decimal to a percentage
R = 0.0703125 * 100 = 7.0313%/year

The interest rate required to get
a total amount, principal plus interest, of $ 7,000.00

from simple interest on a principal of $ 4,480.00

Hope it helped
over 8 years is 7.0313% per year.

Answer 2

I believe you divide 4480 by 8 and get 560 and that should be the answer.