Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
According to the Rule of 72, how long would it take to double an $11,000 investment at a 1.5% compound interest rate? A. 11
According to the Rule of 72, how long would it take to double an $11,000 investment at a 1.5% compound interest rate? A. 11 years B. 18 years C. 27.3 years D. 48 years
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started