If you want to find out how approximately how many years it takes for a $100 investment to grow to $200 at a 6% annual interest rate, you would: Question 4Answer a. Double the interest rate b. Use the Rule of 72 to estimate the years c. Calculate the future value for each year until it reaches $200 d. Divide the final amount by the annual interest rate Clear my choice
Added by Kelly M.
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Step 1: Identify the goal of the investment, which is to grow $100 to $200. Show more…
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