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Sari puts $100 into an account with an interest rate of 10 percent. According to the rule of 70, about how much does she have at the end of 21 years?

a. $800
b. $210
c. $1,010
d. $300

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Answer:

The correct answer is A: $800

Explanation:

The rule of 70 is a means of estimating the number of years it takes for an investment or your money to double.

Number of Years to Double= 70/Annual Rate of Return

In this exercise= 70/10= 7 years

I=100

i=0,10

Every 7 years the investment duplicates.

7 years= 200

14 years= 400

21 years= 800

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