Rule of 72 Approximately what interest rate is needed to double an investment over 6 years?
A) 6%
B) 12%
C) 17%
D) 100%

Question

Quizplus · Accepted Answer

The rule of 72 states that to find the number of years required to double your money at a given interest rate, you divide the interest rate into 72. So, to double the investment over 6 years, the interest rate needed would be 72/6=12%. Therefore, the correct answer is B) 12%.

Rule of 72 Approximately What Interest Rate Is Needed to Double