The approximate time that it takes a deposit to double at a certain interest rate is calculated by dividing the annual interest rate into the number
A) 36.
B) 48.
C) 72.
D) 100.

Question

Quizplus · Accepted Answer

The rule of 72 is a simple formula used to estimate the number of years required to double the invested money at a given annual rate of return. By dividing 72 by the annual rate of interest, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself.

The Approximate Time That It Takes a Deposit to Double