Seudónimo Seudónimo
  • 17-02-2017
  • Mathematics
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Denise put $95 into a CD 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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audreyburkett12
audreyburkett12 audreyburkett12
  • 17-02-2017
number of periods to double = 72/interest rate % 

72/0.43* = 166.15 months = 13.85 years. 
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