An annuity has an annual compound interest rate of 9 percent.At this rate, the original investment will be doubled in approximately

Name: An annuity has an annual compound interest rate of 9 percent.At this rate, the original investment will be doubled in approximately
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Using the rule of 72, we divide 72 by the interest rate (9) to get the approximate number of years for the investment to double. 72/9 = 8. Therefore, the investment will be doubled in approximately 8 years.

An Annuity Has an Annual Compound Interest Rate of 9