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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?
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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
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1 Answer

3 votes
Hi there

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

Hope it helps
User Radovan Skendzic
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