How many years will an amount of money invested at 12% interest approximately take to double?

To determine how many years it will take for an investment to double at a 12% interest rate, we can use the Rule of 72, which is a simplified formula used in finance to estimate the number of years required to double an investment at a fixed annual rate of return. The Rule of 72 states that you divide 72 by the annual interest rate.

In this case, dividing 72 by 12 gives us 6 years. This approximation is particularly effective for interest rates that fall between 6% and 10%, but it remains a useful estimation within the wider range.

This means that, at 12% interest, an amount of money will approximately double in about 6 years, making it the most suitable choice among the options provided. The other figures offered represent durations that deviate significantly from the calculation provided by the Rule of 72 and would not accurately reflect the time needed for the investment to double at the given interest rate.