1.1. The Rule of 70 is a simple way to estimate how long it will take something...
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1.1. The “Rule of 70” is a simple way to estimate how long it will take something to double in value: divide 70 by the annual percentage growth rate; the number you calculate is the doubling time, in years. For example, 70/4 = 17.5;
thus it takes about 17.5 years for a bank account to double in value, assuming 4 percent interest.
Based on this method, what is the doubling time given an interest rate of 2 percent, 5 percent, and 10 percent?
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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