Double your wealth. Kant Miss Company is promising its investors that it will double their money every 2 years. What annual rate is Kant Miss promising? Is this investment a good deal? If you invest $450 now and Kant Miss is able to deliver on its promise, how long will it take your investment to reach $28,000?

Using the rule of 72, what annual interest rate is Kant Miss promising?

Using the Time value of money equation, what annual rate us Kant Miss promising?

Answer rating: 100% (QA)

Solution According to the Rule of 72 Investor gets double the amount invested in 72Rate years Years ... View the full answer