Denise put $95 into a cd that pays 5.2% interest compounded monthly. according to the rule of 72, approximately how long will it take for her money to double? round your answer to the nearest tenth.

It will take 13.67 months for her money to double

Step-by-step explanation:

We are given

Denise put $95 a cd

so, P=95

that pays 5.2% interest compounded monthly

so, r=0.052

We are given

Her money gets doubled

so, A=2*95=190

now, we can use formula

where

t is time in months

we can plug values

now, we can solve for t

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