SOLUTION: Please Help I dont understand the 72 Rule.
Use the rule of 72 to estimate how long it would take a $30,000 deposit to double if you earn an annual interest rate of 12%
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Question 1109200: Please Help I dont understand the 72 Rule.
Use the rule of 72 to estimate how long it would take a $30,000 deposit to double if you earn an annual interest rate of 12%
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into .
=>it will double in years
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