Homework 1 6 Help Save& Exit Submit Check my work 23 a. I the Interest rate is 5.6% per year, approximately how long will it take for your money to quadruple in value? Rule of 72) Use the 10 points of years b. If the inflation rate is 3.8% per year, what will be the change in the purchasing power of your money over this period? (Use the Rule of 72 to compute the number of years. Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places) Prin -lbyl Purchasing power %) Prey 23 of 25il Next >