Using the Rule of 72, how long will it take something growing at 3% per year to double
A)100 years.
B)72 years.
C)24 years.
D)216 years.

Question

Quizplus · Accepted Answer

The rule of 72 states that the number of years it takes for an investment to double is approximately 72 divided by the annual growth rate. Therefore, for something growing at 3% per year, it would take approximately 72/3 = 24 years to double. So, the best choice is C)24 years.

Using the Rule of 72, How Long Will It Take