Twenty Years Ago,Dr

Multiple Choice

Twenty years ago,Dr.Montgomery borrowed money from her parents to pay her tuition at graduate school.Now she wants to pay them back.She gives them double what they gave her.According to the rule of 70,what interest rate would have given her parents the same amount of money if they had put it in the bank rather than lending it to their daughter?

A) 3.5 percent
B) 4.5 percent
C) 5 percent
D) 7 percent