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29-11-2020
Mathematics

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A friend tells you that her savings account doubled in 9 years. Use the Rule of 72 to estimate what the APR of her account was.

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29-11-2020

answer:The rule of 72 says that an amount will double when the product of the percentage and the number of years equals 72...so for 8 years, you would need to earn 9%

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