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

Question

Quizplus · Accepted Answer

The Rule of 72 is a simple way to estimate the number of years required to double an investment at a fixed annual rate of interest. By dividing 72 by the annual interest rate (10% in this case), we get approximately 7.2 years, which is closest to 7.3 years.

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