In banking circles, the Rule of 70 states that the time (in years) required for the value

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In banking circles, the "Rule of 70" states that the time (in years) required for the value of an account to double in value can be approximated by dividing 70 by the annual interest rate (as a percentage, not a decimal). What is the reasorting behind this rule?
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Differential Equations and Linear Algebra

ISBN: 978-0131860612

2nd edition

Authors: Jerry Farlow, James E. Hall, Jean Marie McDill, Beverly H. West

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