sharonromero102008
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2) Suppose you are going to invest a certain amount of money at simple interest for 8 years.
What is the lowest interest rate would you have to earn to be able to double your money in 8
years?
A) 12.5%
B) 15%
C) 17.5%
D) 20%

Respuesta :

Answer is A) 12.5%

Step-by-step explanation:  25% Use the formula I = Prt. Since you want to double your money, your earned interest must equal your investment, P. So set P = P(r)(8) and solve for r to get r = 0.125 = 12.5%. You can also use a specific number for P, since P cancels out of both sides of the equation anyway.

001415146

Answer:

A

Step-by-step explanation:

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