Question 50071
T=P+Prt [Original formula]
12,000=10,000+10,000(r)(2) [Plug-in the values]
12,000-10,000=10,000-10,000 +10,000(r)(2) {Solve for (r)]
2,000=10,000(r)(2)
2,000=20,000(r)
2,000/20,000=20,000(r)/20,000
0.10=r=10% = the minimum interest rate
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check by plugging all of the values back into the original equation.