The question in the image asks:

"If you invest $45,000 at an annual rate of return of 11%, using the Rule of 72, how many years will it take to double?

Round your answer to the nearest whole number."

The Rule of 72 is a simplified formula to estimate how long it will take for an investment to double at a given annual rate of return. The formula is:

$\text{Years to double} = \frac{72}{\text{Annual Rate of Return (\%)}}$

Given:

• Annual rate of return = 11%

Solution:

Using the Rule of 72 formula:

$\text{Years to double} = \frac{72}{11} \approx 6.55$

Rounding to the nearest whole number, it will take approximately 7 years for the investment to double.

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