Question: Using the Rule of 7 0 , how long does it take for a value to double if the growth rate is 8 % ?

Using the Rule of 70, how long does it take for a value to double if the growth rate is 8%?

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!

Q:

Which of the following means that a person will owe taxes only when they begin to take distributions from the account? a) tax preferred b) tax exempt c) tax deferred d) tax deductible Which of the...

Q:

Maria has an opportunity to invest $16800 she inherited from her great aunt. She wants to know how long it would take to double her money. The best investment rate she has found offers an 8% interest...

Q:

Question 12 of 62 -/5 III View Policies Current Attempt in Progress Jennifer has an opportunity to invest $18800 she inherited from her great aunt. She wants to know how long it would take to double...

Q:

Sofia has an opportunity to invest $18,000 she inherited from her great aunt. She wants to know how long it would take to double her money. The average investment return over the past decade was 8%...

Q:

PART 1 Part 2 Using the Rule of 72, determine how long it will take for Linda to double her money if she invests and earns the following returns: 2.88%, 7.20%, and 10.00%. 2.88% years 7.20% years...

Q:

Short Answer 1. Calculate Using the Rule of 72, determine how long it will take for Uma to double her money if she invests and earns the following returns: 2%, 5%, and 9%. 2. The U.S. Nuclear...

Q:

QUESTION 8 2.273 points Save Answer Which of the following actions on the part of the Federal Reserve Bank constitute an expansionary monetary policy? O An increase in the reserve requirement. O An...

Q:

QUESTION 8 2.273 points Save Answer Which of the following actions on the part of the Federal Reserve Bank constitute an expansionary monetary policy? O An increase in the reserve requirement. O An...

Q:

1) According to the rule of 70, about how long will it take something that is growing at a rate of 4 percent per year to double? Answer choices A- 17.7 years B- 18 years C- 17.3 years D- 17.5 years...

Q:

7. FUTURE VALUE FOR VARIOUS COMPOUNDING PERIODS Find the amount to which 5500 will grow under each of these conditions 12% compounded annually for 5 years 12% compounded semiannually for 5 years 12%...

Q:

A book of 100 tickets are purchased from the university at a discount of $10 each and then sold to the public for $20 each. Any ticket not sold by noon on gameday can be sold for $6. There is a 50%...

Q:

Suppose you use the brute force (unimproved) algorithm to search for a Hamiltonian circuit in the graph shown here. E, a. How many links would such a circuit have? b. How many different paths would...

Q:

Blossom Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Blossom uses...

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...