1.8. Practice with the rule of 70: If you inherit

$10,000 this year and you invest your money so that it grows 7% per year, how many years will it take for your investment to be worth $20,000? $40,000? $160,000? (Note:

Investments in stocks have grown at an average inflation-adjusted rate of 7% per year since the U.S. Civil War. We'll practice this some more in Chapter 8.)

Value today: $10,000. Growth Rate: 7%

Number ofyears until money doubles: __ Number of years until money quadruples:

Number of years until your inheritance is 16X larger: __