Elizabeth is investing her money into an account that gives her an interest rate of 4%. According to the Rule of 72, how many years will it

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Elizabeth is investing her money into an account that gives her an interest rate of 4%. According to the Rule of 72, how many years will it take her money to double

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Nho 5 years 2021-08-10T00:04:53+00:00 1 Answers 35 views 0

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  1. haidang
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    2021-08-10T00:06:07+00:00
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    Answer: 18 years

    Step-by-step explanation:

    The Rule of 72 is a way to calculate how long it will roughly take for an investment to double in size.

    It works by dividing 72 by the interest rate as a whole number:

    = 72/ interest rate

    = 72 / 4

    = 18 years

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