Final answer:
If you have a credit card with a 5% interest rate and you pay the minimum, the amount you owe will double in approximately 14 years.
Step-by-step explanation:
If you have a credit card with a 5% interest rate and you pay the minimum, the amount you owe will double in approximately 14 years. This can be calculated using the rule of 72, which is a quick way to estimate how long it takes for an investment or debt to double. To use the rule of 72, divide 72 by the interest rate. In this case, 72 divided by 5 equals 14, so it will take approximately 14 years for the amount owed to double.