Use the Rule of 72 to estimate how long it will take for an investment to double
Question:
Use the Rule of 72 to estimate how long it will take for an investment to double in value if it earns 4.65% compounded annually. Then; solve for the exact doubling time using the algebraic approach or a financial calculator. Round answers to the nearest month.
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Using the Rule of 72 we would estimate that the investm...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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