Just we have to divide 72 by the annual rate of return(r), we can get a rough estimate of how many years it will take to double the initial investment .

Now, in given problem: Let 'r' be the rate of interest

Time to double the amount=29 years

Thus by rule 72 ,

$\frac{72}{r}=29\\\Rightarrow\ r=\frac{72}{29}=2.4827\%\approx2.5\%$

Therefore, C is the right option.

3 0

3 years ago

Read 2 more answers

3. use the law of exponents to evaluate (1/x) ^ -n when x= 7 and n= 2

emmainna [20.7K]

D on both ...................

8 0

3 years ago

Reed uses 88 pieces of glass per square foot to make a stained glass window. how many pieces of glass will he need to make a win

d1i1m1o1n [39]

He will need 528 pieces of glass.

Hope this helps!

Please mark as brainliest because it helps me out a lot :)

8 0

3 years ago