It is anticipated that a bank stock in which Rivka has invested $16,000 will achieve an annual
Question:
It is anticipated that a bank stock in which Rivka has invested $16,000 will achieve an annual interest rate of 9%. Determine the doubling time for this investment using the doubling-time formula. How does this compare with the estimate given by the rule of 72?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The doubling time n for a quantity that increases at ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
1+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
