2
QuizMultiple Choice

Investing

Question 2 • OK-Algebra II B-CR

Jala put $600 in an interest bearing account with a annual compound interest rate of 5%. Jala determined that after seven years, she will have a total balance of $844.26. Using the rule of 72, how many more years will it be before Jala’s $600 doubles in value? Round to the nearest tenth.

Question illustration
Answer
A
3.3 years
B
7.4 years
C
10.3 years
D
14.4 years
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Jala put $600 in an interest bearing account…