The Rule of 72 states that it will take _____ years for a savings account to double at a 9% annual interest rate.

Question

Quizplus · Accepted Answer

The Rule of 72 is a simple formula used to estimate the number of years required to double the invested money at a given annual rate of return. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself. In this case, dividing 72 by 9 gives 8 years.

The Rule of 72 States That It Will Take _____