Amagazine costs 3.50 how much can you buy with 100$

r= 1.22

Step-by-step explanation:

Formula for amount with simple interest =

, where

P= principal value , r= rate of interest , t = time.

Given: P=  $2000, t= 5 years, r= 1.25% = 0.0125

Formula to compute compound amount :

When both have same worth then

taking log on both sides , we get

Hence, Value of r= 1.22