Approximately what rate is needed to double an investment over five years?
A) 8 percent
B) 12.2 percent
C) 14.4 percent
D) 15.8 percent

Name: Approximately what rate is needed to double an investment over five years? A) 8 percent B) 12.2 percent C) 14.4 percent D) 15.8 percent
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Question

Quizplus · Accepted Answer

Using the Rule of 72, which is a simplified way to estimate the number of years required to double the investment at a fixed annual rate of interest, you divide 72 by the number of years (5) to get approximately 14.4 percent.

Approximately What Rate Is Needed to Double an Investment Over