zayonascott12 zayonascott12

20-03-2018
Mathematics

contestada

Denise put $95 into an account that pays 5.2% interest, compounded monthly. According to the rule of 72, approximately how long will it take for her money to double?

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philipscaster83 philipscaster83

20-03-2018

T=72÷5.2=13.8 or 14 years

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kevinruleearth kevinruleearth

24-03-2018

13.8 years.
72/(.052X100)=13.8

72/ interest rate x 100

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