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According to the rule of 70, how many years will it take an investment that is making 4.5 percent interest to double in size?

A: 70 years

B: 15.56 years

C: 31.5 years

D: 4.5 years

Respuesta :

To estimate the number of years for a variable to double, take the number 70 and divide it by the growth rate of the variable. This rule is commonly used with an annual compound interest rate to quickly determine how long it takes to double your money.

So 70÷4.5 = 15.5555556. So the answer is  B

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