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Mathematics

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Pablo deposited 57 into a savings account for which interest is compounded quarterly according to the rule 72 what interest rate will cause his money to double is approximately 44 years

Answer :

Aliwohaish12 Aliwohaish12

Today at 9:39 PM

R= annual rate 72/0.25r=44.4 44*4 is the number of compounding periods 72.4/r =176,,288/r=176 so 176r = 288 r = 288/176 r = 1.636 percent or 0.01636 Let's check 1.01636^44 = just over 2

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