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7 February, 22:34

Denise put $95 into an account that pays 5.2% interest, compounded monthly. According to the rule of 72, approximately how long will it take for her money to double? A. 182.7 years B. 18.3 years C. 138.5 years D. 13.8 years

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  1. 7 February, 23:44
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    According to the rule of 72, the time to double is (interest rate) (number of years) = 72 (approximately). Therefore, all you would have to do is 95 / 5.2 = B. 18.3 years
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