3
QuizMultiple Choice

Investment Strategies

Question 3 • OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27

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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