Find the future value
A=p (1+r/k)^kt
A=3,200×(1+0.024÷4)^(4×15)
A=4,581.72
interest earned
4,581.72−3,200
=1,381.72
Answer:
C. 12
Step-by-step explanation:
With the rule of 72, you would divide 72 by the periodic interest rate to get the number of years for the principal to double
72 ÷ 6 = 12