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16 December, 11:27

Denise put $95 into a CD that pays 5.2% interest compounded monthly. According to the rule of 72, approximately how long will it take for her money to double?

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  1. 16 December, 13:15
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    Number of periods to double = 72/interest rate %

    72/0.43 * = 166.15 months = 13.85 years.
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