What annual rate of return must you earn to double your money in about 9 years? Use the Rule of 72 to determine your answer
A) You would need to earn an annual rate of return of about 12%.
B) You would need to earn an annual rate of return of about 10%.
C) You would need to earn an annual rate of return of about 8%.
D) There is not enough information to answer this question.
Answer: C
Explanation: C) = 8% via the Rule of 72.
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