Question

Use the rule of 72 to solve.manny has his money in a savings account earnings 4.5% interest.how long it will take his money to double?

Answer 1

If Manny's initial money in the savings account is x, we are to calculate for the period in which Manny's money becomes 2x. The calculations are shown
2x = x (1.045)^n
Cancelling both x from the equation and the computing for value of n will give us an answer of 15.75 years.


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