Using the rule of 72, find approximately how many years it takes for $100 to become...
Using the Rule of 72, approximately how many years are needed to double a $100 investment when interest rates are 7.50 percent per year? (Round your answer to 2 decimal places.)
Using the rule of 72 how soon will money double at the following interest rates (Answer all five) A) 8%----will double in years B) 12%----Will double in years C) 4%----will double in years D) 3%----will double in years E) 10%----will double in _years Using the rule of 72 what interest will I need to earn to get my money to double in (A) 6 years _interest required (B) 12 years interest required
Question 2 (0.5 points) Use the Rule of 72 to approximate how many years it will take money to double when growing at an interest rate of 4% per year.
Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.
Question Help Use the "Rule of 72" to determine the following (a) The number of years it takes to accumulate $13,000 in a savings account when P-36,500 and i 9% per year (b) The number of years it takes to accumulate $26,000 in a savings account when P-36.500 and i-9% per year. (c) The average annual interest rate. i required to double an initial investment P in 17 years. (a) The number of years it takes is B (Round to...
3. The "rule of 72" says to divide 72 by the annual interest rate to estimate the number of years needed for an initial investment earning that rate to double. How long would it take for $5 earning 6% a year to grow to $20? a. 12 years b. 24 years c. 36 years d. 48 years 4. If the tractor costs $124.000 (also the loan amount), and the 8 percent loan will be paid back in 5 equal annual...
1) Approximately how many years will it take to double an investment at a 6% annual effective rate? a) 6 years b) 8 years c) 10 years d) 12 years
3. Investment Horizons. How long does the Rule of 72 predict that it will take for $500 to double in value when the effective annual interest rate is 1 percent? Exactly how many years will it take for $500 to double in value when the effective annual interest rate is 1 percent?
Using the Rule of 72, approximately how long will it take to double your money if you invest it at 9% compounded annually? (Work out the problem on a separate sheet of paper before entering the answer.) (Round your answer to a whole number)
Using the Rule of 72, approximately how long will it take to double your $1,000 if you invest it at 7% compounded annually? (Work out the problem on a separate sheet of paper before entering the answer.) (Round your answer to a whole number)