HESI A2 Practice Test

Category - Mathematics

How long will it take for Ron’s $37,353 investment to double if he expects 9% returns?
  1. 5 years
  2. 8 years
  3. 9 years
  4. 9.5 years
  5. 10 years
Explanation

Answer: B - To calculate this answer mentally, use the Rule of 72.

Divide 72 by the rate of growth. In this example, Ron’s money would double in 8 years (72/9). The rule of 72 is a quick mental calculation tool that provides an estimate of how long it would take an investment to grow double.


Key Takeaway: For a few days, practice this every time you see a growth rate in the news paper or at work.

 

Minor fix based to error in answer

Was this helpful? Upvote!
Login to contribute your own answer or details

Top questions

Related questions

Most popular on PracticeQuiz