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22-04-2020
Mathematics

contestada

Using the rule of 72, how long will it take for the principal to double with an annual compound interest rate of 6%?
A. 6
B. 9
C. 12
D. 15

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iamathing iamathing

22-04-2020

Answer:

C. 12

Step-by-step explanation:

With the rule of 72, you would divide 72 by the periodic interest rate to get the number of years for the principal to double

72 ÷ 6 = 12

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