Register

Pablo deposited $57 into a savings account for which interest is compounded quarterly. according to the rule of 72, what interest rate will cause his money to double in approxima…

Pablo deposited $57 into a savings account for which interest is compounded quarterly. according to the rule of 72, what interest rate will cause his money to double in approxima…
11.5k views
5 votes
Pablo deposited $57 into a savings account for which interest is compounded quarterly. according to the rule of 72, what interest rate will cause his money to double in approximately 44 years?

User Zbr
by
8.5k points

1 Answer

3 votes
Hi there

The rule of 72 is
72/time=rate
72÷44=1.6%

Hope it helps
User Radovan Skendzic
by
8.1k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!