Question

Amelia has her money in a CD earning 2 percent interest. How long will it take for her money to double? seventy-two years thirty-six years twenty-four years eighteen years

Answer 1

Use 72 rule
72/2=36 years

Answer 2

The answer is: thirty six years

Step-by-step explanation:

The easiest way to determine how long it will take a CD or any type of investment (that earns compound interest) to double its value, is to use the Rule of 72.

The Rule of 72 is very simple, all you have to do is divide 72 by the rate of return: 72 / 2 = 36 years