A deposit placed in an interest-earning account earning 8% a year will double in value in ___ years.

Name: A deposit placed in an interest-earning account earning 8% a year will double in value in ___ years.
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Question

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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 interest rate. For an 8% interest rate, 72/8 = 9 years.

A Deposit Placed in an Interest-Earning Account Earning 8% a Year