Question: 8. TIME FOR A LUMP SUM TO DOUBLE How long will it take $300 to double if it earns the following rates? Compounding occurs once

8. TIME FOR A LUMP SUM TO DOUBLE How long will it take $300 to double if it earns the following rates? Compounding occurs once a year. A_6% B. 12% Now, do a "reasonableness check/estimate" using the Rule of 72 on each of these... Using the RULE of 72, ABOIUT how long will it take $300 to double if it earns the following rates? Compounding occurs once a year. 4_6% B. 12%

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