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4.4.3 Quiz: Rule of 72
Question 4 of 10
Felicia put $85 into a CD that pays 3.8% interest. According to the rule of 72,
approximately how long will it take for her money
to double?
○ A. 189.5 years
○ B. 18.9 years
C. 223.7 years
○ D. 22.4 years
SUBMIT

Respuesta :

Answer:

B 18.9 years

Step-by-step explanation:

We have been given that Felicia put $85 into a CD that pays 3.8% interest.

We know that rule of 72 gives us the time it will take an amount to be double, when we divide 72 by the interest rate.

Upon dividing 72 by 3.8 we will get,

\text{Time it will take to double Felicia's money}=(72)/(3.8)

\text{Time it will take to double Felicia's money}=18.9473684\approx 18.9

Therefore, it will take approximately 18.9 years for Felicia's money to double.

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