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18 August, 11:14

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 money to double?

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Answers (2)
  1. 18 August, 13:26
    0
    13 years

    Step-by-step explanation:

    Apex
  2. 18 August, 15:10
    0
    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,

    The rule of 72

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

    Formula

    Let R be the rate of interest,

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

    Calculate the approximate years

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