Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

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.

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.