Suppose you have put $50 in an interest-bearing account and you want t

QUESTION

Suppose you have put $50 in an interest-bearing account and you want to double the amount of money in the account. What calculation would you use to determine how many years it would take to double your money?

A) Divide 50 by the interest rate and add 2.
B) Divide 72 by the interest rate.
C) Multiply the interest rate by 2.
D) Add the interest rate to 5.

ANSWER

B