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WILL SOMEONE PLZ HELP ME!! I'VE ASKED LIKE 5 TIMES NOW!!! Approximately how long will it take you to double your savings of $500 if you open a CD that earns 4% interest, ac…

WILL SOMEONE PLZ HELP ME!! I'VE ASKED LIKE 5 TIMES NOW!!! Approximately how long will it take you to double your savings of $500 if you open a CD that earns 4% interest, ac…
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WILL SOMEONE PLZ HELP ME!! I'VE ASKED LIKE 5 TIMES NOW!!! Approximately how long will it take you to double your savings of $500 if you open a CD that earns 4% interest, according to the rule of 72?

User StichResist
by
8.6k points

1 Answer

5 votes

Answer:

18 years

Explanation:

Rule of 72

(72)/(interest)=years to double

72/4=18

User Sean Chou
by
8.6k points
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