Chapter $1$ Homework $($

Problem $1-2$ Using the Rule of $72[$LO$1-2]$

Using the rule of $72,$ approximate the following amounts:

$1\mathrm{.}42$ points

a$.$ If the value of land in an area is increasing $2$ percent a year, how long will it take for property values to double?

b$.$ If you earn $15$ percent on your investments, how long will it take for your money to double?

Skipped

c$.$ At an annual interest rate of $4$ percent, how long will it take for your savings to double?

Complete this question by entering your answers in the tabs below.

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Required a

Required b

Required $c$

Reterences

If the value of land in an area is increasing $2$ percent a year, how long will it take for property values to double?

Note: Round your answer to $1$ decimal place.

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