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larisa [96]
2 years ago
12

Sam put $2,000 in a savings account at his bank. After 10 years, his account balance was $4,000. The interest rate on the saving

s deposit is __%. (Hint: Use the rule of 70 to solve this problem.)
Mathematics
2 answers:
kkurt [141]2 years ago
7 0

rule of 70:

 number of years for savings to double = 70/ interest rate

account doubles in 10 years

 so you have 10 = 70/x

x = 70/10 = 7%

Ad libitum [116K]2 years ago
5 0

Answer:

7%

Step-by-step explanation:

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