An outside company has approached yours to gauge your interest in acquiring them. Among the other companys claims is that a $250,000 buyout would result in a doubling of your companys investment within 3 years. Your companys required rate of return is 8%.

A. Verify the other companys claim by approximating the time it would take to double your companys investment, using your required rate of return and the Rule of 72.

B. Calculate the time it would take to double your companys investment using Excels nper function.