Question

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

Answer 1

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