Answered

Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Jenny’s mom opened up a $1,000 CD for her that earns 3.5% interest. How long will it take for Jenny to double her account balance? Round to the nearest whole number.

16 years
13 years
21 years
7 years

Sagot :

Answer: 21 years

Step-by-step explanation:

I used a rule of 72 calculator to find this answer. At a 3.5% interest rate, it will take 20.57 years to double an investment.

We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.