Mathematics, 02.04.2020 03:04 averyboy2015p9yqkn

QUESTION 1 of 10: The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate ol
interest. By dividing 72 by the annual rate of retum, investors obtain a rough estimate of how many years it will take for the initial
investment to duplicate itself. You want to double your initial investment of $5,000. You put your money in a high yield interest-bearing
account earning 6% per year. How long will it take to double your money?
a) 10 years
b) 12 years
C) 25 years
d) 33 years

Answers: 3

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