Which answer would it be? Please help!!!!!

Question

According to the rule of 72, if Randall invests $700 and $1900 into two separate accounts with the same interest rate, which amount will double faster?
A. $700

B. $1900

C. Both will double at the same rate.

D. None of the above

Answer 1

The rule of 72 says divide 72 by the interest rate to get the number of years to double.

 

If both amounts are invested at the same rate, they will double in the same number of years.  The answer is C.