Answer: 27 years (approx)
Step-by-step explanation:
According to the Rule of 72,
If the product of interest rate and time is equal to 72, the amount will be doubled.
According to the question,
The annual rate = 2.6%
Let after t years the amount will be doubled.
Thus, 2.6 × t = 72
\(t = \frac{72}{2.6} = 27.6923076923\)
Since, the actual time will always less than the time gets by the 72 rule.
Thus, Approx 27 year after the amount will be doubled.
