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(5) Derive a rule of n to approximate the length of time it takes for money to triple. As in the derivation of the rule
(5) Derive a "rule of n" to approximate the length of time it takes for money to triple. As in the derivation of the "rule of seventy-two," your rule should be derived to give an especially good estimate when the annual effective interest rate is 8%. After you have stated your rule, compare the approximations it gives for annual effective interest rates of 4% and 12% with the true values at these rates. AT
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