Question: Formula 0 . 5 points If you inherit $ 5 3 , 0 0 0 and want to double it in 7 years, using the

Formula 0.5 points
If you inherit $53,000 and want to double it in 7 years, using the Rule of 72, at what annual rate of return will you need to invest the money?
Round your answer to the nearest whole percent, but do not include a % sign with your response.
Type your answer...
Formula 0 . 5 points If you inherit $ 5 3 , 0 0 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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!