Curtis Deposited $10,000 into an Account That Compounds Interest Annually

question 3

Essay

Curtis deposited $10,000 into an account that compounds interest annually at a rate of 5%.He wants to know how long it will take for his money to double but doesn't have a calculator with logarithms.If he estimates the answer to his question using the Rule of 72s,and then later tries to verify his estimate with a better calculator,how many days will his estimate be off? Round your answer to the nearest day.

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