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9)If you invest $19,000 at an annual rate of return of 6%, using the Rule of 72, how many years will it take to double? Round your answer to the nearest whole number.

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Answer to a math question 9)If you invest $19,000 at an annual rate of return of 6%, using the Rule of 72, how many years will it take to double? Round your answer to the nearest whole number.

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Hermann

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1. The Rule of 72 states that to find the number of years required to double an investment at a given annual rate of return, you divide 72 by the annual rate of return.
2. Given: annual rate of return = 6%
3. Applying Rule of 72:

\text{Years to Double} = \frac{72}{\text{Annual Rate}}

\text{Years to Double} = \frac{72}{6}

4. Simplify the expression:

\text{Years to Double} = 12

Final Answer:

\text{12 years}

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9)If you invest $19,000 at an annual rate of return of 6%, using the Rule of 72, how many years will it take to double? Round your answer to the nearest whole number.

Answer to a math question 9)If you invest $19,000 at an annual rate of return of 6%, using the Rule of 72, how many years will it take to double? Round your answer to the nearest whole number.

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