Final answer:
Using the Rule of 72, it will take approximately 12 years for Angel's money in a CD earning 6 percent interest to double.
Step-by-step explanation:
The question refers to the time it will take for money to double in a CD earning a 6 percent interest rate. To determine this time, we can use the Rule of 72, a shortcut to estimate the number of years required to double the invested money at a given annual fixed interest rate. By dividing 72 by the interest rate, we get an approximation of the time needed for doubling.
For Angel's investment:
- Interest Rate = 6%
- Years to Double = 72 / Interest Rate
- Years to Double = 72 / 6 = 12 years
Therefore, it will take approximately 12 years for Angel's money to double in value if it continues to earn 6 percent interest.