truelove2119 truelove2119

22-11-2022
Mathematics

contestada

5. Miguel plans on retiring in 16 years, and he wants to double his money by that time. He's contacted various banks, looking for a CD that compounds interest monthly, and to calculate what annual interest rate he needs, he is using the Rule of 72.

Part I: What is the rule of 72? To represent the annual interest rate, use r.

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