here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Question

Question

here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

business Personal-Finance

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

how quickly $100 will double to $200 at interest rates of 2%

=72/2

=36 years

how quickly $100 will double to $200 at interest rates of 4%

=72/4

=18 years

how quickly $100 will double to $200 at interest rates of 6%

=72/6

=12 years

how quickly $100 will double to $200 at interest rates of 8%

=72/8

=9 years

how quickly $100 will double to $200 at interest rates of 10%

=72/10

=7.2 years

answered by: AceMoon

Add a comment

Answer 2

Similar Homework Help Questions

Using the rule of 72 how soon will money double at the following interest rates (Answer...

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
Using the Rule of 72, approximately how many years are needed to double a $100 investment...

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, find approximately how many years it takes for $100 to become...

Using the rule of 72, find approximately how many years it takes for $100 to become $200 at an annual interest rate of 4%. Select one: O a. 6 O b. 18 O O c. 12 d. 24 Check

3.a. According to the Rule of 72, how long will it take $1,000 to double if...

3.a. According to the Rule of 72, how long will it take $1,000 to double if the interest rate is 8%? 3.b. How long will it take the $1,000 to grow to $16,000? Rule of 72 4.a. What is the value ten years hence of $1,000 invested today at 8% interest, $2,000 invested at the end of year five, and $3,000 invested at the end of year eight?
using rule of 72, calculate you are hoping that your investment of$5000 will double in 7...

using rule of 72, calculate you are hoping that your investment of$5000 will double in 7 years. what interest rate do you need to earn to make this happen
Using the rule of 72, estimate (do not calculate exactly) the time necessary to double in...

Using the rule of 72, estimate (do not calculate exactly) the time necessary to double in quarters: $40 at 1% per quarter

The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the numb...

The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the number of years it would take to double GDP at various growth rates. Doubling times can be approximated by the rule of 72. Seventy-two divided by the growth rate equals the number of years it takes to double. Growth Rate Doubling Time (percent) (years) Never 144.0 72.0 48.0 36.0 20.6 20.6 18.0 16.0 14.4 13.1 12.0 11.1 China's output grew...
Using the Rule of 72, determine how long it will take for Maria to double her...

Using the Rule of 72, determine how long it will take for Maria to double her money if she invests and earns the following returns: 1.44%,7.20%, and 6.40% years 1,44% years 7.20% years 6.40%
Using the Rule of 72, approximately how long will it take to double your money if...

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...

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)

here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Homework Answers

Add Answer to:
here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Post as a guest

Earn Coins

Using the rule of 72 how soon will money double at the following interest rates (Answer...

Using the Rule of 72, approximately how many years are needed to double a $100 investment...

Using the rule of 72, find approximately how many years it takes for $100 to become...

3.a. According to the Rule of 72, how long will it take $1,000 to double if...

using rule of 72, calculate you are hoping that your investment of$5000 will double in 7...

Using the rule of 72, estimate (do not calculate exactly) the time necessary to double in...

The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the numb...

Using the Rule of 72, determine how long it will take for Maria to double her...

Using the Rule of 72, approximately how long will it take to double your money if...

Using the Rule of 72, approximately how long will it take to double your $1,000 if...

here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Homework Answers

Add Answer to: here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.

Post as a guest

Earn Coins

Add Answer to:
here is the problem: Using the rule of 72, calculate how quickly $100 will double to $200 at interest rates of 2%, 4%, 6%, 8% and 10%.