Approximately how long will it take Enrique's investment to grow into $2,000?
A)Seventy-two months
B)Six years
C)Nine years
D)Twelve years

Name: Approximately how long will it take Enrique's investment to grow into $2,000? A)Seventy-two months B)Six years C)Nine years D)Twelve years
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Question

Quizplus · Accepted Answer

The rule of 72 is a simple way to estimate the time it takes for an investment to double. If we assume a typical interest rate, nine years is a reasonable estimate for the investment to grow to $2,000.

Approximately How Long Will It Take Enrique's Investment to Grow