Mathematics, 15.06.2020 13:57 lildee16lildee

An investor invests $P and wants to double this amount of money. What simple interest rate required to double the initial amount in 8 years? If you can could you also explain how to calculate the simple interest rate in general as I have been struggling with questions like this, where you have to calculate the simple interest rate.
I would also appreciate it greatly if you could go in depth with the steps to the solution as well as the solution itself. Thanks so much.

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An investor invests $P and wants to double this amount of money. What simple interest rate required...