Question

Example 16: What annual rate of interest compounded annually doubles an investment in 7
years? Given that 27 = 1.104090?​

Answer 1

Answer:

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return. 1 For example: If you invest money at a 10% return, you will double your money every 7.2 years. (72/10 = 7.2)