Using the "Rule of 72," about how long will it take a sum of money to double in value if the annual interest rate is 9 percent?
A) 9 years
B) 7 years
C) 8 years
D) 10 years

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 72 by the interest rate. So, 72 divided by 9 equals 8 years.

Using the "Rule of 72," About How Long Will It