Question: Using the rule of 72, approximate the following amounts: a. If land in an area is increasing six percent a year, how long will it

Using the rule of 72, approximate the following amounts:
a. If land in an area is increasing six percent a year, how long will it take for property values to double?
b. If you earn ten percent on your investments, how long would it take for your money to double?
c. At an annual interest rate of five percent, how long would it take for your savings to double?

Step by Step Solution

3.48 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a About 12 yea... View full answer

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

Document Format (1 attachment)

Word file Icon

1310-B-C-F-P-V(632).docx

120 KBs Word File

Students Have Also Explored These Related Corporate Finance Questions!