You have saved $200 in an interest-bearing account and plan to leave i

QUESTION

You have saved $200 in an interest-bearing account and plan to leave it there for 5 years. How would you calculate the interest you would need to earn in order to double your money in those 5 years?

A) Divide 72 by the number of years you have to save.
B) Multiply 72 by the number of years you have to save.
C) Multiply 5 by 2, then subtract the product from 72.
D) Divide the number of years you have to save by 72.

ANSWER

A