Question

what annual rate of interest compounded annually doubles an investment in 7 years?​

Answer 1

Answer:

Step-by-step explanation:

When interest is compounded annually, a single amount will double in each of the following situations: The Rule of 72 indicates than an investment earning 9% per year compounded annually will double in 8 years.

Answer 2

Answer:

10.3%

Step-by-step explanation:

simple trick , use 72/n if compound interest is doubled

here n is 7

so 72/7 = 10.3%