Sofia has an opportunity to invest $18,000 she inherited from her great aunt. She wants to know how long it would take to double her money. The average investment return over the past decade was 8% annual percentage yield (APY). Using the rule of 72, calculate how long it would take the $18,000 to double at a rate of 8% in interest.

Answer rating: 100% (QA)

Years to Double using the rule of 72 can be comp... View the full answer