Your savings account has doubled over the past 10.8 years. calculate the interest rate you have earned.thanks?
- ralphLv 51 decade agoFavorite Answer
Use the rule of 72. 72 divided by interest rate equals the number of years to double your money. In this case.
72 / i = 10.2 or i = 72 / 10.2 = 7.058 % interest.
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