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Mike has his money in a savings account earning 3.5 percent interest. How long will it take for his money to double? twelve and a half years two and a half years just over twenty and a half years twenty-four
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1 vote
Mike has his money in a savings account earning 3.5 percent interest. How long will it take for his money to double?

twelve and a half years
two and a half years
just over twenty and a half years
twenty-four years

User Mfawzymkh
by
7.6k points

2 Answers

3 votes

Answer:

24 years

Explanation:

User Okaerin
by
7.8k points
2 votes
By using 72 rule
Time=72/rate
T=72÷3.5
T=20.6 years
User Crystle
by
6.5k points
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