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Karolina [17]
3 years ago
12

Lucinda put $66 into a CD that pays 5.7% interest. According to the rule of 72, approximately how long will it take for her mone

y to double?
Mathematics
2 answers:
Sindrei [870]3 years ago
5 0

Answer:

13 years

Step-by-step explanation:

It is given that,

Lucinda put $66 into a CD that pays 5.7% interest. According to the rule of 72,  

<u>The rule of 72  </u>

It is a simplified way to determine, If we invest some amount, how long that investment will take to double,

<u>Formula </u>

Let R be the rate of interest,

The time required to take double the amount = 72/R

<u>Calculate the approximate years</u>

According to the rule of 72, approximately 12.63 ≈ 13 years will it take for her money to double

solong [7]3 years ago
4 0

Answer:

13 years

Step-by-step explanation:

Apex

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