If you received a constant annual rate of return of 7 percent on an investment of $10,000, how many years will it take before you have $20,000?

Question

Quizplus · Accepted Answer

To find the number of years required to double an investment at a constant annual rate of return, you can use the Rule of 72. Divide 72 by the annual interest rate (72/7 = approximately 10.29). Therefore, it will take about 10 years to double the investment.

If You Received a Constant Annual Rate of Return of 7