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In 1933, your great parents saved $5,000 for you in the bank earning 2.5% interest per year. Using the Rule of 70, what would be
In 1933, your great parents saved $5,000 for you in the bank earning 2.5% interest per year. Using the Rule of 70, what would be the approximate value of the money you can withdraw from the bank account today? You can use the boxed FYI The Magic of Compounding and the Rule of 70 in ch 27. You can also check Video Problem Walk-Through: Using the Rule of 70 to Estimate the Value of a Long-Term Investment in ch 27 for a similar calculation question
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