10
QuizMultiple Choice

Investing

Question 10 • IC Sem B Algebra 2

Jill invested $500 in an account with a compound interest rate of 6%. Cheryl invests $600 in an account with a compound interest rate of 4%.Find out in how many years each doubles her money. Using the rule of 72, , what is the difference in the number of years to double their money?

Question illustration
Answer

Correct Answer:

6 years

Jill invested $500 in an account with a compound…