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SHS Lifetime Fitness - 2021
Insurance
Question 7
7
Quiz
Multiple Choice
Insurance
Question 7 of 10 • SHS Lifetime Fitness - 2021
Ida is 25 years old and invests a one-time lump sum of $10,000 in her company's 401(k), which earns an average annual return of 6% compounded annually.Using the Rule of 72, about how many years will it take for Ida's investment to double?
Answer
A
2 years
B
6 years
C
10 years
D
12 years
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