At an annual interest rate of 20 percent,about how many years will it take $100 to double in value?
A)3.5
B)4.5
C)5
D)6

Question

Quizplus · Accepted Answer

The rule of 72 is a quick way to estimate the number of years it will take for an investment to double at a given annual interest rate. To use the rule, simply divide 72 by the annual interest rate. In this case, 72 / 20 = 3.6 years. So, it will take about 3.6 years for $100 to double in value at an annual interest rate of 20 percent.

At an Annual Interest Rate of 20 Percent,about How Many