Suppose a bank advertises that if you open a savings account with them you can double your money in 5 years. What annual rate are they giving? Please help

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Sergio Vicente asked Feb 10, 2023

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Suppose a bank advertises that if you open a savings account with them you can double your money in 5 years. What annual rate are they giving? Please help

Mathematics
college

Sergio Vicente asked Feb 10, 2023

by Sergio Vicente

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10 votes

Answer:

20%

Explanation:

x times 5 = x2

Ex;

$50 +20%

20% of 50 = 10

Over 5 years, 10% x 5 years = $50

Arnyeinstein answered Feb 14, 2023

by Arnyeinstein

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