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The highest yielding savings accounts are paying historically low
interest rates, so Maria is only able to get a 2% annual interest rate
for her savings account. Assuming interest rates do not change,
use the Rule of 72 to approximate how many years it will take for
her to DOUBLE her money in this account? *
1 year
5 years
10 years
36 years

Respuesta :

cp200119

Answer:

36 years

Step-by-step explanation:

Maria interest rates was to get 2% annual. Her interest rate do not change of 72. So you will have to divide 72 out of 2 which that will give you 36 . 36 years is your answer.

Maria's money would double in 36 years

The rule of 72 is an heuristic that is used to determine in how many years it would take an investment to double given the interest rate

Rule of 72 = 72 / interest rate

72 / 2% = 36 years

Assume Maria has $10,000 in her account, it would take 36 years for the money to double.

To learn more about the rule of 72, please check: https://brainly.com/question/2262294?referrer=searchResults

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