At an annual interest rate of 10 percent, about how many years will it take $100 to double in value?
A)5
B)7
C)9
D)11

Name: At an annual interest rate of 10 percent, about how many years will it take $100 to double in value? A)5 B)7 C)9 D)11
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Quizplus · Accepted Answer

The rule of 72 is a simple way to estimate the number of years required to double the investment at a given annual rate of return. By dividing 72 by the annual rate of interest (10%), we get 7.2, which approximates to about 7 years.

At an Annual Interest Rate of 10 Percent, About How