Pat bought a new anchor for her boat. She needed to buy rope for the anchor At the
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Answer:
12 years.
Step-by-step explanation:
We are asked to find the time it will take to an amount of $1000 to grow to $2000 at a rate of 6% per year.
To find the number of years it will take the amount to double, we will divide 72 by growth rate that is 6% is this case.
Therefore, it will take 12 years for a $1,000 investment to grow to $2,000, assuming the investment grows at 6% per year.