At a 6% rate of interest you will double your money in approximately ___ years.
A) 3
B) 6
C) 12
D) 24
E) 48

Question

Quizplus · Accepted Answer

The rule of 72 is a simple way to estimate the number of years required to double the investment at a fixed annual rate of interest. 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, 72 divided by 6 equals 12 years.

At a 6% Rate of Interest You Will Double Your