How long does it take for an interest rate of 8.5 to double?

Question:

Rule of 72:

The rule of 72 is a rule of thumb that is used to estimate how long it takes to double the value of an investment. A similar rule is the rule of 70, which uses 70 as the numerator in the calculation instead of 72.

Answer and Explanation:1

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We can use the rule of 72 to answer this question. According to this rule of thumb, the number of years to double the value of an investment is 72...

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How long does it take for an interest rate of 8.5 to double? | Homework.Study.com (2024)