There is a rule of thumb which can be used as an


There is a rule of thumb which can be used as an approximation called the Rule of 72 to find interest or period of time, given the other quantity, and it is given as ni=72.If $1 is invested for 10 years, what compound rate is necessary for the money to double?

 

How long does it take for the money to double at 12%?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: There is a rule of thumb which can be used as an
Reference No:- TGS01089423

Expected delivery within 24 Hours