If the interest rate is r percent,then the rule of 70 says that your savings will double about every
A)70/(1 - r)years.
B)70/(1 + r)years.
C)70/r years.
D)70(1 + r)/r years.

Question

Quizplus · Accepted Answer

The rule of 70 is a way to estimate the number of years it takes for an investment to double at a given annual interest rate. It is calculated by dividing 70 by the interest rate (r) expressed as a percentage.

If the Interest Rate Is R Percent,then the Rule of 70