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24 May, 09:04

Colette opened a CD 10 years ago at an interest rate of 8.8%, compounded quarterly. According to the rule of 72, when did she have half the amount of money that she has now?

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  1. 24 May, 10:46
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    Hi there

    The rule of 72

    72/rate=time

    72:8.8=8.2 years ago

    Good luck!
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