At an interest rate of 10% it will take approximately how many years to double your investment?
A)Less than five years
B)Between 7 and 8 years
C)Between 9 and 10 years
D)More than 10 years

Question

Quizplus · Accepted Answer

To calculate the number of years it takes to double an investment using the rule of 72. Divide 72 by the annual interest rate. In this case, 72/10=7.2. Therefore, it will take approximately 7 to 8 years (option B) to double the investment.

At an Interest Rate of 10% It Will Take Approximately