Thurman put $90 into an account that pays 4.4% interest, compounded quarterly. According to the rule of 72, approximately how long will it take for his money to double?

A. 204.5 years
B. 163.6 years
C. 16.4 years
D. 20.5 years

Question

Thurman put $90 into an account that pays 4.4% interest, compounded quarterly. According to the rule of 72, approximately how long will it take for his money to double?

 		A.	204.5 years
 		B.	163.6 years
 		C.	16.4 years
 		D.	20.5 years

anonymous · Answer

@perl

anonymous · Answer

@emmigrace222

perl · Answer

are you sure theres no typos in the question

anonymous · Answer

yeah im sure its confusing @perl

perl · Answer

I think its 16.4 years, because you have
72 / (4.4) ,

perl · Answer

72 / (4.4 ) = 16.3636..

perl · Answer

this is just an approximation to the time to double it

anonymous · Answer

ok thanks @perl