Question

Ethan put $150 into a CD that pays 3% interest, compounded monthly. According to the rule of 72, approximately how long will it take for his money to double? A.16 years B.48 years C.12 years D.24 years

Answer 1

Does anyone know this , h e l p !!

Answer 2

24

Answer 3

Rule of 72 -- 72 / 3 = 24

That's all there is to it. That's the point of the Rule of 72. It's quick and simple.

Answer 4

The attached chart may be of help.

http://tinyurl.com/aoqxafm

Answer 5

Make your ownquestion about it cause it in my notifications , thanks !

Answer 6

@sinhvienmoi Click on the attachment link directly above your post. The Rule of 72 statement will pop up.