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Ben put $75 into a CD that pays 1.5% interest compounded monthly. According to the rule of 72, approximately how long will it take for his money to double?

Ben put $75 into a CD that pays 1.5% interest compounded monthly. According to the rule of 72, approximately how long will it take for his money to double?
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Ben put $75 into a CD that pays 1.5% interest compounded monthly. According to the rule of 72, approximately how long will it take for his money to double?

User Ankit Patidar
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7.5k points

1 Answer

6 votes
72/1.5 would equal 48 years.
User Ahram
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8.9k points
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