By the Rule of 72,what annual interest rate would be required to turn $100 into $200 in approximately six years?
A)4%
B)8%
C)12%
D)16%

Name: By the Rule of 72,what annual interest rate would be required to turn $100 into $200 in approximately six years? A)4% B)8% C)12% D)16%
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Question

Quizplus · Accepted Answer

The Rule of 72 is a simple way to estimate how long an investment will take to double at a fixed annual rate of interest. By dividing 72 by the number of years (6), you get an approximate interest rate of 12%.

By the Rule of 72,what Annual Interest Rate Would Be