John Madrid Put $1,000 into a Mutual Fund Yielding an 18

Multiple Choice

John Madrid put $1,000 into a mutual fund yielding an 18% annual rate of return.Using the Rule of 72,calculate approximately how long it will take for the investment to double in value.

A) Three years,four months
B) Three years and seven months
C) Four years
D) Four years and four months
E) Five years