If an investment pays 6% interest and you invest $100,000, about how long will it take you to double your money?
A) 6 years
B) 7 years
C) 8 years
D) 9 years

Question

Quizplus · Accepted Answer

The rule of 72 is a quick way to estimate how long it will take to double your money at a given interest rate. To use the rule, simply divide 72 by the interest rate. In this case, 72 / 6 = 12. So it will take about 12 years to double your money at 6% interest.

If an Investment Pays 6% Interest and You Invest $100,000