Ask Question
18 September, 06:57

If you deposited money in a savings account that paid 1% interest, approximately how long would it take your money to double?

a. 72 years

b. 36 years

c. 18 years

d. 2 years

e. It is impossible to determine with the information given.

+3
Answers (1)
  1. 18 September, 07:22
    0
    Answer: A

    Explanation: The rule of 72 dictates that in order to find the money invested to double you will need to do the following: You would get 72 and divide it by 1 (1 is the percentage in this formula) and the answer would be 72.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If you deposited money in a savings account that paid 1% interest, approximately how long would it take your money to double? a. 72 years ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers