Question
If you earn 12% per year in your bank account, how long will it take for a $110 account to double to $220? (Do not
If you earn 12% per year in your bank account, how long will it take for a $110 account to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Step by Step Solution
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Step: 1
To calculate the time it takes for an account to double we can use the rule of 72 which states ...
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
6th Canadian edition
1259024962, 978-1259024962
