If inflation is increasing at 2.6 percent per year, and your salary increases at the same...

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Question

If inflation is increasing at 2.6 percent per year, and your salary increases at the same...

If inflation is increasing at 2.6 percent per year, and your salary increases at the same rate, how long will it take your salary to double? (Round up your answer to the next whole number.)

24 years

28 years

32 years

30 years

26 years

business finance

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Answer 1

Answer #1

As per 72 rule time to double = 72/interest rate = 72/2.6=28 years

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Answer 2

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If inflation is increasing at 2.6 percent per year, and your salary increases at the same...