@emma97 @sierraabel

Desiree put $175 into a CD that pays 6% interest compounded semiannually. According to the rule of 72, approximately how long will it take for her money to double?

A. 12 years
B. 16 years
C. 18 years
D. 8 years

Question

@emma97 @sierraabel 

Desiree put $175 into a CD that pays 6% interest compounded semiannually. According to the rule of 72, approximately how long will it take for her money to double?

 		A.	12 years
 		B.	16 years
 		C.	18 years
 		D.	8 years

anonymous · Answer

I would say 8 years...but im not exactly sure...but thats what i would put, what i did was multiply 175$ by .6%, then i divided it by 12( because there are 12 months) and i got 8.75...and just approximated it to 8 years...but like i said i have no clue if thats correct...hahah