Math Using the Rule of 72, compute how long it would take to double your money at

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Math Using the Rule of 72, compute how long it would take to double your money at the following annual rates of return:

(a) 1 percent,

(b) 3 percent,

(c) 5 percent,

(d) 7 percent,

(e) 9 percent,

(f) 11 percent, and (g) 13 percent. Assuming the inflation rate is 5.5 percent in a given year, how do these rates of return meet your needs?

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Managing Your Personal Finances

ISBN: 9781305076815

7th Edition

Authors: Joan S. Ryan, Christie Ryan

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