If $15,000 is invested at 10% per year,in approximately how many years will the investment double?
A)7.3 years
B)8.4 years
C)10.6 years
D)14.8 years

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 annual interest rate (10%), we get approximately 7.2 years, which is closest to 7.3 years.

If $15,000 Is Invested at 10% Per Year,in Approximately How