If the interest rate is 6% per year, how long will it take for your money to quadruple in value? If the inflation rate is 4% per year, what will be the change in the purchasing power of your money over this period?
If the interest rate is 6% per year, how long will it take for your money to quadruple in value? If the inflation rate is 4% per year, what will be the change in the purchasing power of your money over this period?
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Answer
According to the Rule of 72, at an interest rate of 6%, it will take 72/6 = 12 years f…View the full answer
Related Book For 
Fundamentals of Corporate Finance
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
ISBN: 978-0077861629