What annual simple interest rate will increase jacob davidson’s initial investment of $5,000 to $6,000 in two years?
multiple choice
a)10%
b)5%
c)4%
d)6%

Hence, the annual simple interest rate is:

10%

The initial investment(I) of Jacob Davidson=$ 5000.

Time(T)=2 year.

Interest(I') earned by him=His income after investment-His initial investment.

                                    = $ (6000-5000)

                                    = $ 1000.

Now, the rate of interest(R) is given by :

Hence, the annual simple interest rate is:

10%

step-by-step explanation:

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