Use the Rule of 72 to calculate how long it will take Amelia to double a $10,000 investment if she expects to earn 8% interest.

Name: Use the Rule of 72 to calculate how long it will take Amelia to double a $10,000 investment if she expects to earn 8% interest.
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The Rule of 72 is a simple way to estimate the number of years required to double the investment at a fixed annual rate of interest. By dividing 72 by the annual interest rate (8%), we get 72 / 8 = 9 years.

Use the Rule of 72 to Calculate How Long It