Question: Andy invested RM30,000 earning 9% per year. Using the rule of 72, how many years it will take for Andy's investment to reach RM120,000?

Andy invested RM30,000 earning 9% per year. Using the rule of 72, how many years it will take for Andy's investment to reach RM120,000?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The rule of 72 is a simple mathematical formula used to estimate the time it takes for an ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!