Circular motion question help

A mass, m of 0.050kg is attached to one end of a piece of elastic of unstretched length, l=0.50m . The force constant, k of the elastic (i.e. the force required to produce unit extension) is 40Nm
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The mass is rotated steadily on a smooth table around a fixed point in a horizontal circle of radius r=0.70m .

What is the approximate speed of the mass?

I know you need to use F=mv^2/r and maybe set that to F=ke but I’m not sure on how to get the extension . Thanks!

So do I assume that the unstretched length reaches the table ? Because I did that but got the wrong answer.
Am I missing something really obvious here!?

It tells you the unstretched length is 0.5 and its rotating in a circle radius 0.7, so ...