If you presently have $6,000 invested at a rate of 15 percent,how many years will it take for your investment to triple? (Round up to obtain a whole number of years if necessary. )
A) 2 years
B) 4 years
C) 6 years
D) 8 years
E) 10 years

Question

Quizplus · Accepted Answer

Using the Rule of 72, you can estimate the number of years to triple an investment by dividing 72 by the annual interest rate. 72 / 15 ≈ 4.8 years to double, and approximately 8 years to triple.

If You Presently Have $6,000 Invested at a Rate of 15