At 3 percent interest, it will take ________ years to double an amount of money invested.

Name: At 3 percent interest, it will take ________ years to double an amount of money invested.
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Question

Quizplus · Accepted Answer

The rule of 72 is a shortcut to calculate the number of years it takes to double an investment at a given interest rate. To use the rule, simply divide 72 by the interest rate. In this case, the interest rate is 3%, so it will take 72 / 3 = 24 years to double the investment.

At 3 Percent Interest, It Will Take ________ Years to Double