Stuart put $99 into a cd that pays 2.6% interest, compounded monthly. according to the rule of 72, approximately how long will it take for his money to double? round to the nearest tenth. show your work.

 27 years (approx)

Step-by-step explanation:

According to the Rule of 72,

If the product of interest rate and time is equal to 72, the amount will be doubled.

According to the question,

The annual rate = 2.6%

Let after t years the amount will be doubled.

Thus, 2.6 × t = 72

Since, the actual time will always less than the time gets by the 72 rule.

Thus, Approx 27 year after the amount will be doubled.

a n s w e r i s 57.2 :)

g o o d l u c k !