Question

Rhonda is 22 years old and would like to invest $2,000 into a U.S. Treasury Note earning 7.5% interest. How many times will Rhonda’s investment double before she draws it out at age 70?

Answer 1

Rhonda is 22 years old and would like to invest $2,000 into a U.S. Treasury Note earning 7.5'0 interest. How many times will Rhonda's investment double before she withdraws it at age 70?

Explanation:

72 / 7.5 = 9.6 (Money will double in 9.6 years)

70 - 22 = 48 years

48 / 9.6 = 5 times (her money will double 5 times until she is 70.

Rhonda investment will double 5 times until she is 70