asked 51.3k views
2 votes
On March 1, 1982, John deposited $2250 into a savings account paying 5.76% interest, compounded quarterly. If he hasn't made any additional deposits or withdrawals since then, and if the interest rate has stayed the same, in what year did his balance hit $4500, according to the rule of 72?

asked
User Thenolin
by
8.7k points

1 Answer

2 votes
the correct answer for APEX is 1994
answered
User Aditya Garimella
by
7.9k points
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