What annual rate of return must you earn to double your money in about 9 years? Use the Rule of 72 to determine your answer.
A)You would need to earn an annual rate of return of about 12%.
B)You would need to earn an annual rate of return of about 10%.
C)You would need to earn an annual rate of return of about 8%.
D)There is not enough information to answer this question.

Question

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 number of years (72/9), you get an approximate annual rate of return of 8%.

What Annual Rate of Return Must You Earn to Double