How long will it take a $100 deposit to increase to $200 if the rate of interest is 4 percent?
A)10 years
B)18 years
C)25 years
D)30 years
E)15 years

Question

Quizplus · Accepted Answer

Using the Rule of 72, which is a simplified way to estimate the number of years required to double the investment at a fixed annual rate of interest, you divide 72 by the interest rate. 72 / 4 = 18 years.

How Long Will It Take a $100 Deposit to Increase