Phil has $2,000,and he needs it to grow to $4,000 in 8 years.Assuming he does not add any more money to this fund,what rate of interest would he need to earn? (Round off the rate of interest to the nearest whole number.)
A)6%
B)7%
C)8%
D)9%
E)10%

Question

Quizplus · Accepted Answer

The Answer of Phil has $2,000,and he needs it to grow to $4,000 in 8 years.Assuming he does not add any more money to this fund,what rate of interest would he need to earn? (Round off the rate of interest to the nearest whole number.)
A)6%
B)7%
C)8%
D)9%
E)10%

Phil Has $2,000,and He Needs It to Grow to $4,000