Answer :
The Rule of 72 estimates the number of years it takes for an investment to double by the formula
[tex]$$
\text{Time to double} = \frac{72}{\text{Interest Rate in Percent}}.
$$[/tex]
Given an interest rate of [tex]$2.6\%$[/tex], we have
[tex]$$
\text{Time to double} = \frac{72}{2.6} \approx 27.7 \text{ years}.
$$[/tex]
Thus, it will take approximately [tex]$27.7$[/tex] years for the money to double. The correct answer is B.
[tex]$$
\text{Time to double} = \frac{72}{\text{Interest Rate in Percent}}.
$$[/tex]
Given an interest rate of [tex]$2.6\%$[/tex], we have
[tex]$$
\text{Time to double} = \frac{72}{2.6} \approx 27.7 \text{ years}.
$$[/tex]
Thus, it will take approximately [tex]$27.7$[/tex] years for the money to double. The correct answer is B.
