Question: Question 9 (10 points) Using the rule of 72, estimate approximately how many years it will take an investor who invests $1,000 at an interest

 Question 9 (10 points) Using the rule of 72, estimate approximately

Question 9 (10 points) Using the rule of 72, estimate approximately how many years it will take an investor who invests $1,000 at an interest rate of 4% per year to double his money. 7 years 10 years 14 years 18 years 20 years

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!