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

Using the Rule of 70, how long does it take for a value to double if the growth rate is 7%?

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:

Employees may not need a pay raise as much as they would need a personal thanks from their manager for a job well done. I would show my workers that I support them, and encourage better performance...

Q:

Air at 50% relative humidity is cooled isobarically at I atm absolute from 90C to 25C. (a) Estimate the dew point and degrees of superheat of the air at 90C. (b) How much water condenses (mol) per...

Q:

Which of the following is most likely to vilate PCAOO independence requirements? Muliple Choice Accepting audit fees freed by a publc authorty. Submming a competive bid to a potentivl audt client....

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...