Start with $350,000 savings. Prepare calculations to compare the rule of 72 estimated time for money to

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Start with $350,000 savings. Prepare calculations to compare the "rule of 72" estimated time for money to double with the actual time it takes for money to double, for the following interest rates:
(a) 5%
(b) 10%
(c) 14%
(d) 20%.

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Financial Management for Decision Makers

ISBN: 978-0138011604

2nd Canadian edition

Authors: Peter Atrill, Paul Hurley

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Question Posted: Apr 21, 2016 04:34 AM

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Start with $350,000 savings. Prepare calculations to compare the rule of 72 estimated time for money to

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Rule of 72 At 5 the rule of 72 provides an estimate of 144 years for money to double ...View the full answer

Financial Management for Decision Makers

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